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Since the advent of the age of mega-securities-fraud settlements, class-action counsel have searched strenuously for–and corporate executives have slept fretfully worrying about–the next trend in investor claims and activism. With global warming and environmental protection on the front pages because of the efforts of social activists, litigators and politicians, there may be repercussions for directors and officers of publicly-traded companies as well as their D&O liability insurers.

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