Alabama Court Cuts $3.6B Verdict Vs Exxon

The Alabama Supreme Court on Thursday threw out nearly all of a record $3.6 billion verdict that the state government won against Exxon Mobil Corp. in a dispute over natural gas royalties.

Fraud Lawsuit Filed Against Regions

A lawsuit has been filed against Regions Financial Corp. arising out of an alleged fraud that cost people $18 million of their retirement money.

SEC Sues Parties Involved in Fraud Ring for Cheating Retirees

The U.S. Securities and Exchange Commission (SEC) recently filed a lawsuit against 26 people and companies for their roles in an alleged $428 million fraud involving Mexican timeshare rentals.

Exxon Valdez Case Verdict Finally Heads to the U.S. Supreme Court

Exxon Mobil Corp. recently filed a petition asking the High Court to review and overturn a $2.5 billion punitive award. If the justices agree to hear Exxon's challenge to the punitive award, then they also should grant the petition by the class members who contend that the $2.5 billion award is not excessive.

Credit Card Arbitration

On Nov. 15, 2001, a New Hampshire man named Troy T. Cornock received a surprising letter from something called "National Arbitration Forum." Seems this organization claimed he owed money on an MBNA credit card. Only one problem: He didn't. His ex-wife had made the charges, and Cornock pointed out to the "Forum" that he had never signed a credit card agreement or made any charges on the account.

Surgeon Wins $31 Million in Unum Provident Lawsuit

A California jury's $31.7 million verdict against Unum Provident, the nation's largest disability insurer, is just one of a number of legal problems the company faces. More than 2,500 policyholders have sued the company accusing it of fraud and breach of contract, there is at least one class-action suit pending and regulators in two states are conducting inquiries.

Committee Wants to Know Why Criminal Probe of Gen Re Was Dropped

The House Judiciary Committee wants to know why the Justice Department abruptly dropped a federal criminal probe into allegations of insurance fraud at Berkshire Hathaway's General Reinsurance (Gen Re) unit.

Campaign to Fight Medicare Fraud Announced

Gov. Bob Riley, at a recent press conference with Alabama Department of Senior Services Commissioner Irene Collins, U. S. Office of Consumer Choice and Protection Director Barbara Dieker and Alabama Association for Justice (formerly the Alabama Trial Lawyers Association) President-Elect Gibson Vance, announced a new campaign to fight Medicare fraud.

Groups want Allstate Trial Records Kept Open

Consumer groups have called on a U.S. District Court judge in New Orleans to keep open to the public key Allstate Insurance Co. documents from the first federal insurance trial in Louisiana from Hurricane Katrina.

State Farm Pays Nearly $30M in Mississippi to Settle Katrina Claims

State Farm Insurance Co. agreed to voluntarily re-evaluate Mississippi Hurricane Katrina slab cases in April, and since then has paid more than $29.8 million in additional claims payments since the re-evaluation process began.