In two recent decisions, the Texas Supreme Court defined the limited parameters in which Texas courts can look beyond the “four corners” of the complaint against the policyholder and the “four corners” of the insurance policy (i.e., the “eight-corners rule”) when determining whether an insurer’s “duty to defend” is triggered.
Permitting exceptions to the “eight-corners
Financial
New Complaint – Bui v. Nguyen, et al.
Bui v. Nguyen was filed in California Superior Court on December 30, 2021, claiming relief for civil damages. Specifically, the complaint alleges claims for breach of contract, breach of fiduciary duty, promissory fraud, constructive fraud, fraudulent concealment, and conversion.
Plaintiffs are three individuals who invested funds with Defendants The Church for the Healthy Self a/k/a…
New Complaint – yLoft LLC v. Bechtler, Parker, Watts, P.S.C.
yLoft, LLC v. Bechtler, Parker & Watts, P.S.C. was filed in the Circuit Court for Jefferson County, Kentucky on January 18, 2022, asserting claims for negligent misrepresentation, fraudulent misrepresentation, violation of state securities laws, and unjust enrichment against an accounting firm alleged to have facilitated the sale of unregistered securities.
Plaintiffs are individuals and institutional…
New Complaint – Andersen, et al. v. Gigapix Studios, Inc.
By Jenny Yi
Andersen, et al. v. Gigapix Studios, Inc. was filed in the Superior Court of California, County of Sacramento on January 13, 2022 seeking civil damages for claims of fraud and misrepresentation.
Plaintiffs are a group of individuals who invested in Defendant Gigapix Studios, Inc. (“Gigapix”). Gigapix is an animation company that solicited investors by advertising…
Fed: Let’s Talk Central Bank Digital Currencies
In late January 2022, the Federal Reserve released “Money and Payments: The U.S. Dollar in the Age of Digital Transformation,” its much-anticipated discussion paper on central bank digital currencies (CBDCs). In the paper, the Federal Reserve provides a framework and summary of its initial analysis on the potential adoption of a U.S. CBDC…
New Complaint – Schwartz v. McGregor
Schwartz v. McGregor was filed in the District Court of Denver County, Colorado on January 10, 2022, seeking relief under Colorado’s Uniform Fraudulent Transfer Act, C.R.S. § 38-8-101-112 (“CUFTA”), including a turnover and accounting and damages for actual and constructive fraud.
Plaintiff Gary Schwartz is a court-appointed Receiver (“Receiver”) on behalf of a multi-million-dollar fraudulent…
New Complaint – Freitag, as Receiver for ANI Development LLC v. Dean Libs, et al.
Freitag, as Receiver for ANI Development LLC v. Dean Libs, et al. was filed in the Southern District of California on January 25, 2022, asserting one claim for fraudulent transfer.
Plaintiff is the court-appointed permeant receiver for ANI Development LLC (“ANI Development”), American National Investments, Inc., and their subsidiaries and affiliates (“Receivership Entities”) in an…
Illinois Federal Court Carves Up Plaintiffs’ Ponzi Scheme Claims For Lack of Actual Knowledge or Bad Faith
Backed by unrealistically ambitious owners, well-intentioned business ideas that fail to meet expectations or become unsustainable regrettably often become full-fledged Ponzi schemes. Today’s Growth Consultant, Inc. (“TGC”) represents an entity that faced the same fate.
TGC advertised to potential investors its expertise in building, acquiring, and monetizing online websites. Investors paid an upfront fee to…
In a Hard Global Insurance Market, Will Insurers Cover Political Risk Insurance Claims?
Entering 2020, corporate policyholders already faced a hardening insurance market. But as the COVID-19 pandemic continues to wreak havoc on global markets and sow civil unrest throughout the globe, and the insurance industry faces unprecedented losses, the market has further deteriorated entering 2022.
In fact, Reuters reported COVID-19 losses of $44 billion so far, which…
Increase in ‘Take-Home’ COVID-19 Litigation Creates Fear of ‘Never-Ending’ Liability for Employers
As COVID-19 continues to spread, recent news has highlighted the risk of “take-home” COVID-19 cases and the potential for “never-ending” liability for businesses. So-called take-home lawsuits are filed by employees’ domestic relatives for diseases or illnesses caused by exposures that allegedly traveled home through the employee.
On Jan. 12, 2022, Reuters reported “at least 23…