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Insurance Coverage for Awards of Attorneys' Fees
Almost all class actions that are resolved involve an award of attorneys' fees to plaintiffs' counsel. In some instances, the fee awards are specified by agreement and are paid from the overall settlement. In other instances, the fees are determined in a separate hearing and may be awarded in addition to the settlement payment. These awards of attorneys' fees often reach millions of dollars and may, in some circumstances, be one of the most significant components of a settlement or judgment.
However, insurance carriers often resist paying such awards. They contend that the awards constitute penalties or do not constitute insured compensatory damages. They also sometimes contend that the awards are not covered because they are derivative of uncovered claims. These carrier arguments should not be readily accepted. As explained below, many, if not most, attorneys' fee awards in class action cases probably will be covered by insurance policies.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.