John H. Snyder PLLC won a complete victory on behalf of client Actuarial Risk Consultants LLC (ARC), a New Jersey actuarial firm.
In early 2015, ARC was sued by Leading Insurance Group (LIG), a financially troubled insurance company. LIG asserted claims against ARC for professional malpractice and unjust enrichment, both claims arising from LIG's contention that ARC failed to detect problems with LIG's own internal actuarial work. ARC denied all wrongdoing and asserted that LIG, in bringing this lawsuit, was seeking to shift the blame for its own mismanagement.
On March 7, 2016, New York Supreme Court Justice Saliann Scarpulla dismissed all claims against ARC, holding that LIG had failed to allege a viable cause of action. While ARC is disappointed that LIG chose to assert this meritless action, ARC is pleased to have received complete vindication in the New York courts.