I love Advisen Front Page News (FPN). Advisen focuses on things of interest to the insurance industry.
I was a subscriber for many years when I worked as an enterprise risk management practitioner. Insurance always was part of my plans.
I’m now retired, but my weekday is not complete sans Advisen FPN in my in-box.
There almost always is something worth sharing. Today (4 SEP 2020) there are several.
Sometimes the articles are amusing. Sometimes they are scary. Always they are interesting.
The following are snippets, excerpts, from the full articles. All original sources are identified.
From the Advisen FPN email for 4 September 2020:
INSURANCE: If you buy it, READ THE SMALL PRINT
Florida federal court upholds virus exclusion in COVID-19 BI case
By Erin Ayers, Advisen
A Florida federal court ruled that the virus exclusion of commercial property policy bars recovery for COVID-19 business interruption claims by a dental practice in a switch from other cases that have focused on the lack of physical damage.
In Mauricio Martinez DMD v. Allied Insurance Company of America, the U.S. District Court for the Middle District of Florida granted the insurer’s motion to dismiss because “the insurance policy expressly excludes coverage from damages caused by a virus.” Allied Insurance is a subsidiary of Nationwide.
Source: Advisen FPN @ https://tinyurl.com/yyddv7no
The Gap Hit with Board Diversity Derivative Lawsuit
By Kevin M. LaCroix, RT ProExec
This post was originally published on LaCroix’s The D&O Diary.
On September 1, 2020, a plaintiff shareholder filed a shareholder derivative lawsuit in the Northern District of California against the fourteen members of the board of directors of The Gap, as well as against the company itself as nominal defendant. The gist of the complaint is that despite numerous public statements about the company’s commitment to diversity, “Gap failed to create any meaningful diversity at the very top of the Company,” as the company’s board “lacks a single African American director.”
In the latest in a series of lawsuits against high-profile companies alleging that the companies’ boards lack African-American directors, a plaintiff shareholder has filed a shareholder derivative lawsuit against the board of directors of the clothing retailer, The Gap. The lawsuit is substantially similar to the lawsuits filed by the same plaintiffs’ law firm against Oracle (here), Facebook (here), Qualcomm (here), and NortonLifeLock (here). A copy of the lawsuit against The Gap’s board can be found here.
(To see the “here” links above, you must go to the Advisen or The D&O Diary site.)
Source: Advisen FPN @ https://tinyurl.com/yy96fcen
Shareholder sues Tribune Publishing and its board, alleges 'poison pill' takeover defense plan is 'overreach of corporate power'
Publication Date 09/03/2020
Source: Chicago Tribune (IL)
A Tribune Publishing shareholder is suing the Chicago-based newspaper company and its board, alleging the adoption in July of a so-called poison pill is “an extremely aggressive overreach of corporate power.”
The provisions are “so draconian as to … severely hobble or shut down the ability of any stockholder or group of stockholders to seek to influence the direction of the company,” the lawsuit alleges
The lawsuit, filed Friday in Delaware Chancery Court on behalf of the Vladimir Gusinsky Revocable Trust, seeks class-action status and a court order preventing Tribune Publishing from invoking the plan.
The same family trust filed a separate lawsuit Friday against suburban Chicago-based aviation services company AAR, challenging its poison pill plan. Bloomberg Law was first to report on the lawsuits.
Source: Advisen FPN @ https://tinyurl.com/y2xpdpkr
Saks Fifth Avenue countersues Bal Harbour Shops after eviction proceedings
Publication Date 09/03/2020
Source: Miami Herald (FL)
Sep. 3--Saks Fifth Avenue has filed a lawsuit against Bal Harbour Shops and its CEO, Matthew Whitman Lazenby, claiming the mall broke confidentiality agreements and defamed the upscale chain after filing eviction proceedings in August for $1.9 million in unpaid rent.
The complaint, filed Sept. 1 in Miami-Dade civil court, argues that Lazenby breached a confidentiality contract in the store's lease by revealing the dollar amount Saks owes in back rent in an interview with Women's Wear Daily. The store's rent is determined using a percentage rate of its monthly sales.
The lawsuit also argues that Lazenby made defamatory statements that damaged the chain's reputation and sales by claiming Saks used the pandemic "as a convenient excuse to evade their financial obligations."
Source: Advisen FPN @ https://tinyurl.com/y2a9okc3
Legal bunfight: McDonald's accuses Hungry Jack's of ripping off Big Mac
Publication Date 09/03/2020
Source: Guardian Web
The Hungry Jack’s chain controlled by billionaire Jack Cowin is in a legal pickle – on a sesame seed bun – after rival burger group McDonald’s accused it of ripping off the famous Big Mac.
In a federal court lawsuit filed on Monday, companies in the McDonald’s group claim Hungry Jack’s “deliberately adopted or imitated” the “distinctive appearance or build” of the Big Mac, as well as its ingredients and the advertising tagline “two all-beef patties, special sauce, lettuce, cheese, pickles, onions – on a sesame seed bun”, which has been used to promote the greasy treat since at least 1974.
Hungry Jack’s Big Jack burger is promoted online as containing “two flame-grilled 100% Aussie beef patties, topped with melted cheese, special sauce, fresh lettuce, pickles and onions on a toasted sesame seed bun”.
Source: Advisen FPN @ https://tinyurl.com/yyv5jm3v
NOTE: If a provided SOURCE link fails, search the internet for the headline (e.g., Legal bunfight)
PLAGIARISM is the act of appropriating the literary composition of another, or parts or passages of his writings, or the ideas or language of the same, and passing them off as the product of one’s own mind.
Truth is an absolute defense to defamation. Defamation is a false statement of fact. If the statement was accurate, then by definition it wasn’t defamatory.
Web sites (URLs) beginning https://tinyurl.com/ are generated by the free Tiny URL utility and reduce lengthy URLs to manageable size.
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