Litigation

Allstate Corp. has added to its tally of New York lawsuits seeking to recover investment losses on residential mortgage-backed securities with a filing against Morgan Stanley.

Farmers Insurance will pay more than $1.5 million in overtime back wages to 3,459 employees for pre-shift work they performed but were never compensated for.

State Farm says it will “weigh its options” after an Indiana jury awarded $14.5 million to a contractor in Indiana who sued the insurer for defamation.

A decision by the New York State Court of Appeals allowing a group of banks to proceed with its lawsuit against MBIA’s 2009 restructuring of its insurance operations has mixed credit implications for the MBIA family of companies, Moody’s says.

The New York Court of Appeals ruled that a group of banks can go ahead with their lawsuit against MBIA, which questions the validity of the break-up of the insurer.

The New York Court of Appeals ruled that a group of banks can go ahead with their lawsuit against MBIA, which questions the validity of the break-up of the insurer.