Pennsylvania Federal Court Holds Insurer Can’t Use Insured’s Admission to Withdraw Defense

It has long been the rule, under Pennsylvania law, that an insurer’s duty to defend is determined “solely” by the allegations in the “four corners” of the complaint against the insured. Kvaerner Metals Div. of Kvaerner U.S., Inc. v. Commercial Union Ins. Co., 908 A.2d 888, 896 (Pa. 2006). A corollary of that rule —

Antitrust Agency Turf War Over Big Tech Investigations

Temple Law alumnus Carl Hittinger discusses the positions of the Federal Trade Commission and the Department of Justice as calls for antitrust investigations into “Big Tech” companies escalate. The agencies, which share civil antitrust enforcement authority, reportedly are tussling over the right to investigate social media, online retail, search engine, and app store companies, raising the possibility of wasted resources, duplicative investigations, inconsistent positions, and confusion.

Tax Relief May be Ahead for Market Participants Transitioning Away from LIBOR

Tax relief may be coming for issuers and holders of debt instruments and parties to derivatives and other financial contracts governed by LIBOR (the London Interbank Offered Rate). The IRS published new proposed regulations on October 9 to address tax concerns as parties have begun to modify financial instruments’ reference rates in anticipation of a