Litigation review in the technology and life sciences industries provides confirmation and surprises
AUSTIN, Texas -- Technology and Life Science companies across the globe deal with more litigation and regulatory challenges compared to most other industries.
In June 2013 TechAssure Association reviewed the verdicts and settlements for the first half of the year and a summary of their findings include:
- During the first half of 2013, 84% of the verdicts and settlements against technology firms fell mainly into the following ten categories. Patent, privacy, network security, price fixing, employment, consumer class actions, fraud, antitrust, breach of contract, insider trading/SEC and trademark disputes.
- During the first half of 2013, 82% of the verdicts and settlements against life science firms fell mainly into the following ten categories. Products, patent, false claims and ads, marketing, labeling, price fixing, antitrust, employment, kickback and billing practices, whistle blowing, fraud and contractual disputes.
- Whistleblower allegations appear to be growing in the life science industry and while there appears to be a growing level of wage and hour allegations in the technology industry.
- A growing number of allegations appear in the categories of network security and privacy in the technology industry.
- TechAssure Association reviewed 349 technology verdicts and settlements and 310 life science verdicts and settlements that occurred since January 1, 2013.
- The analysis was not conducted by a country of residence, size of company, whether the company was private or public.
The aim of this semi-annual litigation review was to enable our members, and their clients, to stay abreast on the top risk issues and trends in the technology and life sciences industries.
About TechAssure Association, Inc.
Founded in 2001, TechAssure Association is a non-profit organization and has 22 worldwide insurance broker members in seven countries, serving over 4,000 industry clients with annual industry insurance premiums of $1 billion.
The members of TechAssure help a wide range of technology clients develop effective risk management and workforce productivity solutions, so they feel more confident about managing their future. TechAssure members are affiliated with forty-eight technology associations throughout the world.
TechAssure Association leads TechAssure University, TechAssure Innovation Labs and managing partner for VentureInsure.
TechAssure members include:
The Addis Group, AH&T Insurance, AHM Financial Group, Audit & Risk Solutions, Avatar, Bolton & Co, Costello & Sons, Diversified Insurance Group, Giles Insurance Brokers LTD, Globalex, GPL Assurance, Gregory & Appel, IMA Corporation, JJ Wade & Associates, Keaney Insurance Brokers, Mason & Mason Insurance, Plexus Groupe, Prudent Brokers, RJ Ahmann & Co, Roach Howard Smith & Barton, Rollins Agency, Sanderson Risk Advisors.
In addition, TechAssure has worldwide partnerships with legal, venture capital and key partners in the insurance industry.
SILVER SPRING, Md. – Employer Support of the Guard and Reserve (ESGR), a Department of Defense operational committee, has honored the Security Industry Association (SIA) with its Above and Beyond Award.
ESGR recognizes employers who show exceptional support for employees who serve in the Guard and Reserve units of the U.S. Armed Forces. This is the second time that SIA has received an award from ESGR. The organization previously received ESGR’s Patriot Award “for contributing to national security and protecting liberty and freedom by supporting employee participation in America’s National Guard and Reserve force.” The Above and Beyond Award is presented to a select number of Patriot Award recipients “for outstanding service and continuing support to the national defense.”
“SIA’s Board members and staff are deeply honored to have received this award,” SIA CEO Don Erickson said. “We are in the business of security, and there is no better way to promote a secure society than to support the men and women who put on the uniform and go wherever they’re needed when the nation calls.”
Members of the Guard and Reserve typically hold regular civilian jobs in addition to training with their military units for one weekend a month and two weeks a year. Since Sept. 11, 2001, though, about 700,000 Guardsmen and Reservists have deployed to Afghanistan and Iraq for from several months up to a year or more, and many more have been mobilized for other purposes, creating challenges not only for the service members and their families, but also for their civilian employers.
“Supportive employers are critical to maintaining the strength and readiness of the nation’s Guard and Reserve units,” Virginia ESGR State Chair Stephen Villalpando said.
The Security Industry Association (www.securityindustry.org) is the leading trade association for electronic and physical security solution providers. SIA protects and advances its members' interests by advocating pro-industry policies and legislation at the federal and state levels; creating open industry standards that enable integration; advancing industry professionalism through education and training; opening global market opportunities; and collaboration with other like-minded organizations. As a proud sponsor of ISC Expos and Conferences, and owner of the Securing New Ground Conference, SIA ensures its members have access to top-level buyers and influencers, as well as unparalleled learning and network opportunities.
Employer Support of the Guard and Reserve (www.esgr.mil), a Department of Defense office, seeks to foster a culture in which all employers support and value the employment and military service of members of the National Guard and Reserve in the United States. ESGR facilitates and promotes a cooperative culture of employer support for National Guard and Reserve service by developing and advocating mutually beneficial initiatives, recognizing outstanding employer support, increasing awareness of applicable laws and policies, resolving potential conflicts between employers and their service members, and acting as the employers’ principal advocate within DOD. Paramount to ESGR's mission is encouraging employment of Guardsmen and Reservists who bring integrity, global perspective and proven leadership to the civilian workforce.
Luxembourg’s Leading Retailer Relies Upon ADVA Optical Networking for Data Center Connectivity
Martinsried, Germany – ADVA Optical Networking announced today that the Cactus Group, the leading retailer in Luxembourg, has deployed the ADVA FSP 3000 to provide optical data center connectivity in order to roll-out a new fully redundant data center infrastructure. The ADVA FSP 3000 will be the foundation for the Cactus Group's business continuity applications, ensuring that its operations are always online and running. The solution was deployed by ADVA Optical Networking’s long-standing partner, Telindus.
Cactus operates a large production and point-of-sale network that interconnects malls, more than 30 food stores, a catering service, a coffee-roasting facility and a major food-products factory. With some 4,000 employees, the Cactus Group ranks as Luxembourg's third-largest private employer. The company opened its first store in 1967 and pioneered the shopping center concept in Luxembourg, making it one of the nation’s most famous brands.
"With such a large and public brand as ours, it's critical that we effectively manage our IT systems and operations," said Jean Gavroy, IT director, Cactus Group. "We cannot afford any downtime, any lost revenues, any lost customer confidence. This is why we're working with Telindus and ADVA Optical Networking. They know how to keep your networks running every second of every day of every week. What’s more, they know how to scale. We’re continually growing and we expect our network to do the same"
Replacing an array of individual point-to-point connections provided by local network operators, the new connectivity solution based on WDM technology utilizes two distinct paths to interconnect Cactus Group sites through the company’s new main data center in Windhof and backup data center in Bertrange. The ADVA FSP 3000 installation supports 40 wavelengths of 1Gbit/s and 10Gbit/s Ethernet and also 8Gbit/s Fibre Channel over a network that leverages Cactus Group’s own dark fiber.
“It's difficult to quantify the impact on a business that network downtime can cause, especially on a consumer-focused business,” commented Yann Evain, sales director BeNeLux, ADVA Optical Networking. “Cactus Group understands this and together with Telindus, we've developed an incredibly robust solution. One that was built to Cactus Group's specific requirements, not only for today’s business demands but also tomorrow’s. In this respect, Cactus Group’s optical network has become a key competitive edge.”
“Given how much business is being conducted across its network at any given moment, Cactus Group’s recovery-point and recovery-time objectives are very challenging — transactions must be continually backed up and, in the event of an interruption, service must be re-established quickly,” said Jacques Ruckert, director products and solutions, Telindus. “The ADVA FSP 3000 has repeatedly proven itself in precisely this type of networking environment and its industry-leading Storage Area Networking (SAN) qualification program extends terrific flexibility in deploying multi-vendor Fibre Channel technologies."
The ADVA FSP 3000 is a scalable Wavelength Division Multiplexing (WDM) system specifically designed for service providers and large enterprises that require a flexible, cost-effective system that will multiplex, transport and protect high-speed data, storage, voice and video applications over fiber-optic networks. ADVA Optical Networking is the leading vendor of WDM systems sold to enterprises and service providers for storage applications. The company’s Optical ADVAntage Program confirms product interoperability and qualification for mission-critical applications such as business continuity, disaster recovery, data-center consolidation and remote processing.
About ADVA Optical Networking
ADVA Optical Networking is a global provider of intelligent telecommunications infrastructure solutions. With software-automated Optical+Ethernet transmission technology, the Company builds the foundation for high-speed, next-generation networks. The Company’s FSP product family adds scalability and intelligence to customers’ networks while removing complexity and cost. With a flexible and fast-moving organization, ADVA Optical Networking forges close partnerships with its customers to meet the growing demand for data, storage, voice and video services. Thanks to reliable performance for more than 15 years, the Company has become a trusted partner for more than 250 carriers and 10,000 enterprises across the globe. For more information, please visit us at www.advaoptical.com
About Cactus Group
The first Cactus store was created in 1967. With some 4 000 employees and 2 hypermarkets, 11 supermarkets, 6 Cactus market convenience stores, 2 Cactus Hobbi and 18 Cactus Shoppi grocery stores, the Cactus group is the 3rd largest private employer in Luxembourg. This family enterprise is highly diversified, with malls, hyper-and supermarkets, a restaurant branch and a catering service, a major food production branch, a coffee roasting plant and its own advertising agency. In an increasingly globalized world and in a competitive environment marked by foreign multinationals, Cactus is undoubtedly one of the brands most attached to the image of Luxembourg and its citizens. Both in terms of customers and commercial partners, Cactus is deeply related to the country that has given birth to it. Cactus makes it a point of honor to distinguish itself through its offer in fresh products, through the largest selection of local products and superior quality, and finally, through its societal commitment. www.cactus.lu
About Telindus Luxembourg
Telindus Luxembourg is the Belgacom Group’s ICT branch and, through Telindus Telecom, the Group’s enterprise operator in Luxembourg, it provides solutions to a variety of private and public-sector companies. Its areas of expertise include enterprise networks and connectivity (national and international), datacenters, security, collaboration, applications and mobility. With a customer centric approach, Telindus Luxembourg positions itself as the privileged partner for businesses and administrations in Luxembourg. In order to accompany its customers, at their own pace, with the highest respect for their evolution, Telindus adapted its wide range of solutions and services to meet the very specific needs to any customer profile. With more than 350 experienced specialists, Telindus Luxembourg’s strategy is to focus on customers’ needs managed through a single point of contact to meet overall ICT requirements. www.telindus.lu
NEW YORK -- CapApex LLC, an enterprise software consulting company, announced today its partnership with Epicor(R) Software Corporation, a global leader in business software solutions for manufacturing, distribution, retail and services organizations. This partnership extends CapApex's commitment to providing expert technical and functional services to customers using the next-generation Epicor enterprise resource planning (ERP) solution. With Epicor ERP, businesses have the platform and flexibility to compete in today's global marketplace -- without technology, integration and accessibility barriers. CapApex's parent company, NormaSys, has been a part of the Epicor Inspired Partner Network for more than five years in France and with this latest agreement, CapApex will continue to deliver world-class services to customers with their certified consultants in North America.
CapApex specializes in helping businesses define their enterprise software strategy and moving them to easier-to-run and more-appropriate-for-their-business IT models whether it is on-premise, in the cloud or hybrid. "Simplifying IT means communicating and collaborating more effectively with your team and your customers. It means improving customer satisfaction, reducing costs and focusing on the business not on technology. Epicor delivers a core value system and industry-leading products that align perfectly with this approach and we are looking forward to our partnership with them," says Carlos Pardo, CEO of CapApex.
"The addition of CapApex to our expanding global ecosystem is a reflection of the importance Epicor places on developing a broad base of customer support resources," says Matt Bauer, director, channel sales, ERP Americas, Epicor. "CapApex demonstrates the commitment we believe is necessary to assure a consistent Epicor brand experience for every customer."
Epicor ERP raises technology to a level that delivers unprecedented business management and supports continuous performance improvement through real-time, in-context business insight. At the core of Epicor is an adaptable and collaborative business architecture that satisfies the needs of any enterprise -- regardless of country, industry or device -- to enable business anywhere. Built on the Epicor True SOA(TM) architecture, the software is designed to offer extensive flexibility, usability and agility in support of application-to-application integration and business-to-business collaboration, key to enabling the delivery of information throughout the enterprise. Available in more than 70 countries, customers from across the manufacturing, distribution, financial services and retail sectors around the globe have put the power of the next-generation Epicor ERP platform to work t o support business innovation, process improvements, and a truly integrated view of the business and value chain.
About CapApex LLC
CapApex was created to help companies that traditionally would struggle with enterprise software implementation and were ultimately unsatisfied with the results. Many of these implementation projects placed an unrealistic and unnecessary workload on the people in the business. The results, unfortunately, were far too often projects that were over-budget, under-scope and low on quality. CapApex believes that implementing enterprise software should not only provide an excellent return on investment but also a realistic path to success. The goal is to provide companies with the tools and processes that fit the business as well as the technology.
ISLANDIA, NY -- Offices throughout El Paso and Southern New Mexico now have easier access to MaxxVault document management solutions thanks to a partnership with Spectrum Imaging Systems of El Paso. MaxxVault LLC is a leading specialist in enterprise Electronic Document Management Systems (EDMS), providing platform solutions that are secure, powerful and easy to use. Spectrum Imaging Systems provides complete business workflow solutions as well as end to end technology solutions, digital docum ent imaging solutions including black & white and color copiers, facsimiles, laser printers, high-speed duplicators, scanning solutions and multifunctional systems that copy, fax, print and scan.
"Spectrum has long been recognized as a leader in scanning solutions for all kinds of businesses," said Sharron Miller, Regional Sales Executive for MaxxVault. "They know how to maximize the return on their client's investment and make sure the solutions they offer are easy to use, ensuring its success. Spectrum is thorough in their examination of all the solutions they sell, working only with the best. We are thrilled to have passed their evaluation and that they have chosen MaxxVault as their document management software platform solution."
Michelle Lemke, Solutions Integration Manager, said: "The versatility of our product offerings is a key focus within our organization. Not only does MaxxVault have an outstanding list of features that make managing documents and information easier, but they have built a very solid platform for all aspects of the business workflow from HR to A/R. MaxxVault is a solution that I can strongly recommend to my clients as it is fully modern, open and stable."
About MaxxVault, LLC
MaxxVault, LLC provides software solutions for the management, distribution and control of corporate documents. Benefits of MaxxVault Enterprise include: reduced costs, improve efficiency, increased customer satisfaction and regulatory compliance. MaxxVault is an open system; it is built using the latest technology which provides enhanced security, dependability and interoperability with existing systems. MaxxVault is quickly adopted by users and administrators. MaxxVault is a Red Herring 2012 Top 100 Global Award winner, a CRN 2011 Top 20 Cloud vendor and a BLI Five Star solution. Simple just got easier. For more information about MaxxVault LLC, visit: www.MaxxVault.com.
About Spectrum Imaging Systems
For over hundred years, Spectrum Imaging Systems has made a commitment customer service and investing in the right technology to meet our client's business needs. We have built our company based on a hard-won reputation for delivering quality products at competitive prices, all backed by the finest customer support network in the region. We are a multi-million dollar operation providing state-of-the-art business solutions to customers throughout the Desert Southwest. For more information about Spectrum Imaging Systems, visit www.spectrumimaging.net.
LONDON (Reuters) - For European insurers frustrated that "cyber crime" policies have so far failed to find a ready market among skeptical companies, hope may be at hand.
Not only has a huge data loss by Sony Corp dramatically illustrated the risks of hacking raids on corporate data, but the European Union is working on regulatory requirements which threaten heftier fines on unprepared companies.
The net effect for the insurance sector is that its efforts to establish cyber cover as a lucrative business line alongside risks such as weather catastrophes may be about to bear fruit.
In the United States, cyber cover has grown to be a market worth more than $1 billion in annual premiums, but Europe has not yet followed suit, perhaps surprising given a run of high profile, and costly, hacking incidents.
Seven months after the second most costly hurricane in history, Mayor Bloomberg proposed investing $19.5 billion to make his city much more resilient to future extreme weather events. More than one-quarter of these resources will come from federal funds included in the Disaster Relief Appropriations Act, which provides aid to New York, New Jersey, and other affected states to help them recover from Superstorm Sandy. New Jersey is also investing significant portions of its Superstorm Sandy federal aid in resilience efforts, particularly along the Jersey Shore. These investments will make New York and New Jersey homes, businesses, infrastructure, and coastal areas more resistant to damage from future storms, sea-level rise, and other climate-change impacts.
Unlike New York City and New Jersey, many communities lack the financial resources to become more resilient to future extreme weather events, and the federal government woefully underfunds such resilience needs. This CAP analysis estimates that the federal government spent a total of only $22 billion on general resilience efforts from fiscal year 2011 to fiscal year 2013. The Obama administration requested an additional $13 billion for mitigation efforts in Connecticut, New Jersey, and New York after Superstorm Sandy, but it is difficult to determine the actual mitigation spending from this sum. The federal government does not have a comprehensive tally of its spending for community resilience and other pre-disaster mitigation programs.
As Tropical Storm Barry, the second named storm of the 2013 Atlantic hurricane season, formed yesterday in the southern Gulf of Mexico, ahead of landfall early today near the city of Veracruz, Mexico, we can’t help but wonder isn’t it a bit early?
Fortunately, one of our favorite blogs has some interesting facts and stats on early season tropical storms.
Dr. Jeff Masters’ Wunderblog tells us that Barry’s formation date of June 19 is a full six weeks earlier than the usual August 1 date of formation of the season’s second storm.
“The Europeans won’t let this go. They want to know clearly what has really been going on.”
Sitting in one of the State apartments in Dublin Castle, the EU vice president and commissioner for justice, fundamental rights and citizenship, Viviane Reding, is polite, but clearly, deeply frustrated. At a joint press conference with US attorney general Eric Holder held earlier in the day last Friday, Reding had stated that the fundamental privacy and data protection rights of Europeans were “non-negotiable”.
Waiting media were eager to hear what her response would be to recent revelations by former Booz Allen Hamilton contractor Edward Snowden, on the existence of two secret schemes run by the US national Security Agency (NSA) for gathering vast amounts of personal phone and online data. One took in millions of phone call records over many years from operator Verizon; the other, named Prism, involved as yet unclear arrangements whereby nine large US technology companies, such as Skype, Apple, Facebook and Google, supplied data on request.
NORMAN — Barely a month since their occurrence, the tornadic events of May have joined the ranks of high-profile school emergencies as a source of heightened scrutiny on schools’ emergency preparedness.
Events like the Columbine High School and Sandy Hook Elementary shootings, or the more local April 2012 tornado in Norman, have dramatically altered priorities in school design and district procedures, with May making certified storm shelters in schools a new concern.
“What gets put in school facilities is reflective of priorities at the time,” Superintendent Joe Siano said. “In 1990, I was the principal of a brand new school and it didn’t have a secured vestibule entry or storm shelters — it just wasn’t a priority to communities at that time. For a new school now, that would be unthinkable.”