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Supreme Court Shields Investment Funds From Shareholder Lawsuits
The US Supreme Court shielded funds from some investor lawsuits, ruling that an 86-year-old federal statute doesn’t authorize shareholders to sue over bylaws and management decisions. Voting 6-3, the justices on Thursday blocked activist investors from suing 11 closed-end funds, …
POSTED JUNE 12, 2026 5:25 AM |
South Korea Fines Coupang Record $409 Million for Data Breach
A South Korean regulator fined the country’s largest e-commerce platform, owned by US-listed Coupang Inc., a record 624.7 billion won ($409 million) for a wide-ranging cyber-intrusion that escalated into a diplomatic tiff with the US. The Personal Information Protection Commission’s …
POSTED JUNE 12, 2026 5:05 AM |
Markets/Coverages: Distinguished Programs Expands Into Reinsurance Led by DiPaola
Distinguished Programs, a national managing general agent (MGA) and insurance program manager, has expanded into the reinsurance market with the addition of Distinguished Reinsurance. The new platform has launched with its first group focused on property reinsurance, led by Frank …
POSTED JUNE 12, 2026 5:00 AM |
Motorists Sue NY County Over 1.6 Billion License Plate Scans
A coalition of civil rights groups on Tuesday asked a state judge to order one of New York’s largest suburban counties to stop its deployment of nearly 600 license plate readers, calling it a warrantless and “indiscriminate surveillance system” that …
POSTED JUNE 12, 2026 5:00 AM |
California Company Paying $3.3M to Resolve False Claims Allegations
California medical providers and their medical director have agreed to pay $3.3 million to settle allegations they submitted claims to healthcare programs and commercial insurers for services that weren’t provided or supervised. San Francisco-based Circle Medical Care of California, Circle …
POSTED JUNE 12, 2026 5:00 AM |
Man Sentenced Over False FEMA Claims for Lahaina, California Wildfires
A Hawaii man was sentenced for filing claims with the Federal Emergency Management Agency seeking disaster relief related to the Lahaina and Pacific Palisades wildfires. Daylyn Harris, 35, of Honolulu, was sentenced to 24 months in prison, followed by five …
POSTED JUNE 12, 2026 5:00 AM |
Nebraska Settles With Company Regarding Overpriced COVID Tests
Nebraska Attorney General Hilgers announced a $4.87 million multistate settlement with GS Labs that resolves claims that the testing company overcharged patients, unlawfully charged administrative fees, and failed to deliver timely COVID-19 test results. The multistate coalition investigated a number …
POSTED JUNE 11, 2026 4:52 PM |
Union Bay Acquisition Acquires Michigan-Based Arlington Agency
Union Bay Acquisition, an aggregator of insurance agencies, has acquired the assets of Arlington Agency, Inc., based in Livonia, Michigan. Terms were not disclosed. This is Union Bay’s eighteenth acquisition, and fifth in the state of Michigan. Arlington Agency offers …
POSTED JUNE 11, 2026 4:47 PM |
Tesla’s Robotaxi Falls Short With Long Waits and Stalled Rides
When Elon Musk kicked off Tesla Inc.‘s quarterly earnings call in July 2025, robotaxis were top of mind. The carmaker had just launched its automated ride-hailing service several weeks earlier in Austin, to glowing early reviews from the hand-picked crop …
POSTED JUNE 11, 2026 4:45 PM |
Texas Governor Candidates Start Over Corpus Christi Water Woes
Corpus Christi’s impending water crisis — and delayed action by city leaders — has become an issue in the race for Texas governor, with Gov. Greg Abbott threatening a state takeover of the city and his Democratic opponent, Gina Hinojosa, …
POSTED JUNE 11, 2026 4:42 PM |
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