Archive for May 2024

Mondelez International Inc. was fined €337.5 million ($366 million) after European Union antitrust watchdogs said the US company illegally thwarted cross-border sales of its chocolate, cookies and coffee. The EU said the maker of Côte d’Or chocolate, Ritz crackers and … Source: Claims Journal

Travel insurance policies “will likely” cover injuries sustained by aircraft turbulence, but policies may vary, the Association Of British Insurers said following the Singapore Airlines SIAL.SI incident on Tuesday. One passenger died of a suspected heart attack, and 30 were … Source: Claims Journal

Troubled Malaysian state fund 1MDB has sued Petrosaudi International Ltd.’s executive Patrick Mahony for $1.83 billion over a 2009 joint venture with the oil exploration firm. 1MDB, in its statement of claim, said it was misled into believing that a … Source: Claims Journal

A judge in Hawaii on Tuesday ordered Bristol Myers Squibb and Sanofi to pay more than $916 million to the state for failing to warn non-white patients of health risks from its blood thinner Plavix, up from an earlier judgment … Source: Claims Journal

Kathleen Martin, a former senior data compliance official at Citigroup Inc., accused the bank of firing her for refusing to mislead a regulator about the lender’s data governance efforts. Martin said in a lawsuit in New York Wednesday that Citigroup … Source: Claims Journal

With recent news that Johnson & Johnson is going forward with a third bankruptcy plan of a subsidiary to settle tens of thousand of lawsuits that it’s talc products cause cancer, a class-action lawsuit was filed today alleging the company’s … Source: Claims Journal

Passengers injured by severe turbulence on a Singapore Airlines flight on Tuesday are likely eligible for compensation, but the amount each receives could differ dramatically even for identical injuries due to an international treaty. One passenger died and the airline … Source: Claims Journal

A bankruptcy court judge has approved a plan by the cryptocurrency lender Genesis Global to return about $3 billion to its creditors and investors, including thousands of people who New York regulators say were defrauded by the company. The plan … Source: Claims Journal

S&P Global Market Intelligence weighed in on the U.S. cyber insurance marketplace, reporting that premium dipped in 2023 to end several years of rapid growth. The overall 0.7% decline in cyber insurance direct written premiums was driven by a 3.2% … Source: Claims Journal

Temperatures will soar across Texas this week, increasing demand for energy as people switch on air conditioning to cool down. The heat will also spread across the Midwest and Northeast, with the potential for record warm overnight low temperatures from … Source: Claims Journal