A Delaware judge has ruled that two of Pfizer Inc.'s insurers must cover the costs associated with a $486 million settlement in a New York shareholder suit that accused the pharmaceutical giant of misleading investors about the health risks associated with two anti-inflammatory drugs.
A Delaware judge on Wednesday rejected what he called a "peculiar" motion by an industrial pump manufacturer seeking prejudgment interest against excess insurers in a dispute over millions of dollars in asbestos-injury coverage, observing that no court had ever granted such a request without first finding damages.
Activist investor Carl Icahn on Monday sued AmTrust Financial Services Inc. in the Delaware Court of Chancery, accusing the New York-based workers' compensation insurer of undervaluing the company in a $2.7 billion go-private bid in order to benefit its controlling family.
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