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On August 20, 2025, in a ruling that will be of particular interest to insurance industry professionals, the Third Circuit reversed vacated a trial court’s summary judgment ruling in favor of the defendants in the securities class action lawsuit pending against Bermuda reinsurer Maiden Holding, Ltd. The decision provides interesting insight into the application of the U.S. Supreme Court’s holding in the Omnicare case, with particular reference to alleged omissions in connection with insurance company loss reserves. The Third Circuit’s August 20, 2025, opinion can be found here.Continue Reading Insurer Loss Reserves and Securities Suit Omissions Allegations

On August 24, 2018, Northern District of California Judge Charles Breyer dismissed the securities class action lawsuit pending against Tesla. Wait. What? Wasn’t that Tesla lawsuit just filed? O.K. turns out, it wasn’t that lawsuit against Tesla that was dismissed, it was a prior lawsuit. The dismissal order was entered in the lawsuit filed against the company in October 2017 alleging misrepresentations in connection with the company’s production of its Model 3 sedan, not the recent lawsuit filed against the company just a few days ago in connection with Elon Musk’s now-infamous take-private tweets. Judge Breyer, in recognition of the possible confusion about which case his order related to, said at the outset of his opinion that his ruling was in the “non-Twitter related securities action against Tesla (emphasis in the original).”  Despite the absence of a relation to Musk’s recent Twitter storm, the opinion still makes for some interesting reading. Judge Breyer’s opinion can be found here.
Continue Reading Tesla Securities Suit Dismissed – Not THAT One, the Prior One