Insurance & Financial Services

Sullivan & Cromwell pressured me to file for FTX bankruptcy, crypto exchange’s founder says

Indicted cryptocurrency exchange FTX founder Samuel Bankman-Fried is accusing Sullivan & Cromwell of pressuring him to seek bankruptcy protection for his company and filing documents nominating a new CEO after he tried to withdraw permission.

Dec 15, 2022 1:01 PM CST

FTX founder faces criminal and civil charges for alleged $1.8B fraud at FTX Trading

The founder of cryptocurrency exchange FTX is facing criminal and civil securities charges in connection with an alleged $1.8 billion fraud for touting FTX Trading as a safe platform for crypto asset trading while diverting investor money to his privately held hedge fund.

Dec 13, 2022 10:34 AM CST

Lawyer used deceptive ‘mobile claim center’ to solicit Hurricane Ian clients, Florida Bar alleges

A lawyer is denying allegations that she solicited Hurricane Ian clients using a truck designed to look like an operation of the Federal Emergency Management Agency or a state-run site. The lawyer said the Florida Bar’s petition for her emergency suspension is based on “a clear misunderstanding of the underlying facts and circumstances in this matter.”

Nov 23, 2022 9:35 AM CST

Supreme Court should consider right to earn a living, 5th Circuit judge says in COVID-19 shutdown case

A conservative federal appeals judge suggested in a concurrence this week that the U.S. Supreme Court should consider whether the right to earn a living is a fundamental, unenumerated constitutional right.

Nov 10, 2022 1:22 PM CST

Judge orders Trump to appoint independent monitor in New York attorney general’s $250M fraud case

The Trump Organization was ordered by a New York judge to appoint an independent monitor, a win for the New York attorney general in her $250 million fraud lawsuit against former President Donald Trump, his companies and his officers.

Nov 7, 2022 8:58 AM CST

Harvard flubbed insurance deadline, cannot access $15M policy, judge rules

Harvard University will not be able to tap into a $15 million insurance policy to cover legal expenses after failing to alert its insurer in a timely manner of the lawsuit over its race-conscious admissions program, a federal judge in Boston ruled Wednesday.

Nov 4, 2022 11:45 AM CDT

Lawyer who fought state’s motorcycle helmet law stayed true to his cause in death

A Florida lawyer who thought that motorcycle helmets should be a choice, rather than a requirement, died with his girlfriend in August in a motorcycle crash.

Oct 26, 2022 8:48 AM CDT

Baker & Hostetler helped client conceal ‘blatant insurance fraud,’ suit alleges

A bankruptcy trustee has filed a lawsuit alleging that Baker & Hostetler helped a client commit “blatant insurance fraud" and cause several companies to wrongly pay more than $100 million in rebates to pharmacy benefit managers that managed patients' insurance.

Oct 5, 2022 2:49 PM CDT

California bar announces probes of 2 prominent lawyers after report on mishandled settlement funds

The State Bar of California announced Tuesday that it is investigating two prominent Los Angeles lawyers in connection with the mishandled distribution of settlement funds paid by insurers for descendants of Armenian genocide victims.

Sep 30, 2022 10:37 AM CDT

Trump inflated net worth by billions to get favorable loans, obtaining $250M in benefits, NY attorney general says

Former President Donald Trump obtained hundreds of millions of dollars in real estate loans and favorable insurance coverage based on financial statements that inflated his net worth by billions of dollars, according to a lawsuit filed Wednesday by the New York attorney general.

Sep 21, 2022 12:49 PM CDT

Lawyer is still entitled to disability benefits for depression linked to law practice, 6th Circuit rules

A former Traverse City, Michigan, personal injury lawyer is entitled to continued monthly payments under his disability insurance policy because of evidence that his recurrent depression makes him unable to work as a trial attorney, a federal appeals court has ruled.

Sep 13, 2022 9:49 AM CDT