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Kevin LaCroix

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Kevin M. LaCroix is an attorney and Executive Vice President, RT ProExec, a division of RT Specialty. RT ProExec is an insurance intermediary focused exclusively on management liability issues.

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The rise of Artificial Intelligence (AI)-based tools and applications has also meant the rise in AI-related infrastructure, such as data centers and power generation support. And just as we have seen the rise of securities litigation relating to companies’ adoption of AI tools and processes, we have also seen securities suits relating to AI infrastructure development.

In the latest example of this kind of AI infrastructure-related litigation, on March 20, 2026, a plaintiff shareholder filed a securities class action lawsuit against the engine and power systems company Power Solutions International, alleging that the company’s new strategy of providing power generation solutions for AI data centers had fallen short of the company’s representations. A copy of the new complaint against Power Solutions can be found here.Continue Reading Power Supply Company Hit with AI-Related Securities Suit

As detailed in prior posts on this site (here and here), turbulence in the private credit markets has roiled the financial marketplace. Collapses (and related scandals) involving high profile private credit borrowers – including Tricolor and First Brands– have led to bankruptcies, civil lawsuits, and criminal indictments. The disruption in the private credit markets has also recently led to securities class action lawsuits involving private credit lenders. In the most recent example of this phenomenon, late last week a plaintiff shareholder filed a securities class action lawsuit against private credit lender Hercules Capital, after a short seller published a report suggesting that the company had misrepresented its borrower due diligence processes. A copy of the March 20, 2026, lawsuit can be found here.Continue Reading Private Credit Firm Hit with Securities Suit After Short Seller Report

Following a rare trial in a federal securities class action lawsuit, a civil jury late last week found that statements Elon Musk made on social media in 2022 about his proposed $44 billion acquisition of Twitter misled investors. However, the jury also found that the plaintiff had not made the case that certain other statements by Musk were misleading. The jury’s verdict has a number of interesting implications, as discussed below. A copy of the jury’s March 20, 2026 verdict form can be found here.Continue Reading Jury in Rare Securities Suit Trial Finds Musk Misled Twitter Investors

In the following guest post, Chris Quirk, a wholesale broker at ARC Excess & Surplus, now part of CRC Group, examines issues surrounding the provision of notice of circumstances that may give rise to a claim in connection with a claims made and reported insurance policy. Our thanks to Chris for allowing us to publish his article as a guest post on this site. Here is Chris’s article.Continue Reading Guest Post: Dealing with Potential Claims Under Claims-Made and Reported Policies

Crypto asset investors and issuers alike have long sought greater clarification on questions surrounding the actual or potential applicability of the federal securities laws to digital assets. SEC Chair Paul Atkins previously declared his intent to provide relevant guidance. Now, the SEC, acting in conjunction with the Commodities Futures Trading Commission, has issued detailed guidance segmenting digital assets between those to which the securities laws apply and those to which the laws do not apply, as well as clarifying under what circumstances digital assets can become subject to the securities laws. The agencies’ clarifications will provide significant illumination for investors and issuers, and at least potentially for D&O insurance underwriters as well.Continue Reading SEC Issues Guidance on the Application of the Securities Laws to Digital Assets

The number of accounting-related securities class action lawsuit filings declined in 2025, but the value of accounting-related securities suit settlements increased during the year, according to the latest annual report on the accounting suits from Cornerstone Research. The report, which is entitled “Accounting Class Action Filings and Settlements – 2025 Review and Analysis” can be found here. Cornerstone Research’s March 18, 2026, press release about the report can be found here.Continue Reading 2025 Accounting-Related Securities Suit Filings Decreased, Settlement Value Increased

Among the challenges companies face as they incorporate AI into their business strategies is accurately projecting the impact the AI-based approach will have on their business and financial results. Business outcomes may fall short of expectations to the disappointment of investors, which in turn can lead to securities litigation. In the latest example of this phenomenon, investors sued the Israeli-based software company Monday.com after it adjusted its earnings guidance as its AI-based strategy unfolded differently than the company had projected. A copy of the March 10, 2026, complaint against the company can be found here.Continue Reading AI-Related Securities Suit Filed Against Israeli Software Company

There was a time, not that long ago, when ESG was the dominant topic in the corporate governance world. Every company was expected to have a sustainability plan and to maintain a respectable ESG profile. However, as a result of now years-long ESG backlash, the predominance of ESG as a governance topic has diminished. Indeed, with the Trump administration’s active anti-ESG policies and actions, including among other things several anti-ESG executive orders, as well as the actions of several red state governors and legislatures, it now sometimes feels that ESG as a governance topic is in full retreat. However, two recent developments – including a court decision striking down a Texas state anti-ESG law and the filing of ESG-supportive ERISA liability lawsuit – suggest that, at a minimum, there may be more of the ESG story yet to be told.Continue Reading Countering Anti-ESG Backlash

Lucas Roberts

In the following guest post, Lucas Roberts, a Management Liability Broker for Burns & Wilcox, examines a recent coverage dispute in which a nonprofit organization unsuccessfully sought to have its insurer defend the organization in a civil rights lawsuit. My thanks to Lucas for allowing me to publish his article on this site. Here is Lucas’s article.Continue Reading Guest Post: Nonprofit with Zero Employees Handles Discrimination Claim Alone

In the immediate aftermath of the U.S. Supreme Court’s ruling that President Trump lacked authority to impose tariffs under the International Economic Emergency Powers Act (IEEPA), the President defiantly issued an Executive Order imposing new global 10% tariffs (later raised to 15%) in reliance on the Section 122 of the Trade Act of 1974. No President previously has used Section 122 to impose tariffs. Now a coalition of 24 states’ Attorneys General and Governors has filed a lawsuit in the United States Court of International Trade against the President and certain of administration officials challenging the President’s Section 122 tariffs. The plaintiffs argue that the circumstances under which the President has authority under Section 122 to impose tariffs not only does not exist now, but has not existed for over 50 years following changes in the global monetary exchange system in the 1970s. The likelihood is that the President will have to find yet another basis on which he can impose tariffs – which he seems likely to continue to try to do.Continue Reading State AGs Challenge President’s Trump’s Section 122 Tariffs