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South Arkansas Youth Services Board Was Negligent, Trustee Says

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If the board of the defunct South Arkansas Youth Services Inc. of Magnolia had done its job, it could have prevented the CEO from using money for bribes and kickbacks, a lawsuit alleges.
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Calamos Can't Tap Travelers Policy For Stockholder Suit Deal

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Calamos Can t Tap Travelers Policy For Stockholder Suit Deal
Law360 (February 22, 2021, 6:03 PM EST) A Delaware federal judge has ruled that a Travelers unit doesn t have to help cover Calamos Asset Management s $22 million settlement of a consolidated stockholder class action over its 2017 merger with insider-controlled businesses, finding that the stockholders suit didn t constitute a covered securities claim.
U.S. District Judge Maryellen Noreika granted summary judgment Friday to Travelers Casualty & Surety Co. of America, absolving the insurer of any coverage obligations under an excess directors and officers policy it issued to Calamos.
The Travelers policy followed the terms of Calamos primary D&O policy with XL Specialty Insurance Co., which covered only losses stemming. ....

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