Aon Financial Services Group: 2017 D&O Year in Review
Aon Financial Services Group (FSG) is pleased to present our fourteenth annual Year in Review. We modified our format this year and organized this edition by subject matter, summarizing cases involving insurance coverage related issues as well as cases dealing with the U.S. securities laws, ERISA and cyber, among other disciplines.
In 2017, FSG continued to monitor the trends in securities class action litigation, again seeing filings at historically high levels, in part due to the continued rise in federally-filed merger-objection lawsuits. The chart below depicts the increase in the filing level, and also shows a decrease in the median and average settlement amounts. This is driven, in part, by the lower number of settlements in excess of $100 million.
In 2017 we also saw securities litigation in the wake of data breaches and following the disclosure of sexual harassment incidents and allegations that a company’s board or management permitted such a culture to permeate the company.
Another new exposure is the surge of activity involving initial coin offerings and cryptocurrency. The SEC has noted that in some circumstances such an offering may involve the sale of a security.
The United States Supreme Court has added a number of securities cases to its docket and the rulings are eagerly anticipated in 2018.
The 2017 Year in Review addresses these developments along with relevant insurance coverage cases related to policy terms, conditions and exclusions, corporate governance issues and the legal doctrine of standing, especially as it relates to data breach incidents.
We hope you enjoy the 2017 Year in Review and its new format. We look forward to advising on the issues and trends of 2018. Thank you for your interest and support.
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