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A New York judge said KBW did not allege “any actual injuries” by claiming the move hurt its reputation. -
The judge said that the punitive damages were higher than constitutional limits set by the US Supreme Court.
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The plan calls for the voluntary reduction of claims to $16bn, which would be converted into equity.
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The lawsuit comes after a probe by the NLRB was dismissed, and the EEOC had not yet reached a conclusion on the claims.
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The Chubb CEO hit out at the wave of litigation which often follows acquisitions.
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The insurance company is opposing the Scouts’ bid to move the case to a local county court.
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The court will later make a permanent ruling over whether action against Apollo’s life insurance unit can proceed.
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The company has reached a settlement with Alissa Fredricks and agreed to binding arbitration with Tony Belisle.
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The lawsuit against carriers including Chubb, Allianz and Markel follows the passage of NY’s Child Victims Act.
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The Puerto Rican insurer is battling reinsurers in federal court over coverage for hurricanes Irma and Maria.
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Alliant engaged in “subterfuge” and engineered resignations of 26 Lockton employees to target its rival’s clients, a judge found.
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The casino giant says it is at risk of “losing valuable witnesses and attorneys” in legal battles with more than 4,000 claimants.
