Todd Kremin

All articles by Todd Kremin

 

First of its Kind: Yahoo Settles Securities Litigation for $80 Million

Yahoo’s recently-announced $80 million settlement of its data breach-related securities lawsuit may be a signal that the plaintiffs’ bar is going to pivot away from pursuing these claims in the form of shareholder derivative lawsuits. In their ongoing effort to capitalize on large-scale data breaches, to date, plaintiffs have struggled to survive motions to dismiss in data breach-related derivative lawsuits (e.g. Target and Wyndham Worldwide). Although the plaintiffs in the Home Depot derivative litigation were able to extract a $1.125
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Earth, Wind, and Water: New York Court Enforces Anti-Concurrency Clause In Superstorm Sandy Case

In Clarke v. Travco Insurance Company, 2015 U.S. Dist. LEXIS 104267 (SDNY, August 7, 2015), a federal judge sitting for the United States District Court, Southern District of New York granted a homeowners insurer summary judgment in a dispute with its policyholder regarding coverage for a Superstorm Sandy claim. The homeowner was insured for first-party property damage to his home pursuant to a standard homeowners policy. His home, located near the Hudson River, sustained damage as a result of flood
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Rhode Island Supreme Court Takes Broad Approach to Household Residency

In Peerless Insurance Company v. Luppe, 2015 R.I. LEXIS 87 (R.I. June 17, 2015), the Rhode Island Supreme Court held that a minor child of divorced parents can be a resident of a non-custodial parent’s household. The relevant facts are as follows: Maya Henderson’s parents were divorced. Maya’s mother had physical custody. Maya’s father had visitation rights. At some point after the divorce, Maya began staying overnight with her father two nights per week. Maya kept some of her clothing
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Blast from the Past: First Circuit Reverses Dismissal of Coverage Dispute Concerning 50-Year Old Missing Policy

In Cardigan Mountain School v. New Hampshire Insurance Co., 2015 U.S. App. LEXIS 8725 (1st Cir. May 27, 2015), the U.S. Court of Appeals for the First Circuit reversed the dismissal of an action based on events that occurred nearly 50 years ago, nixing the ruling that the lawsuit failed to state a claim under Rule 8 of the Federal Rules of Civil Procedure. The First Circuit instead held that the complaint survives dismissal by pleading the existence of an insurance
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