Insolvent Insurer’s Shareholders Lack Standing To Seek Redress Of Damages, Defendants Say

Mealey's (September 17, 2019, 8:53 AM EDT) -- SAN JUAN, Puerto Rico — An insolvent insurer’s stock owner, its president and vice president lack standing to seek redress of claimed damages in their lawsuit alleging a civil conspiracy to deprive them of their constitutional rights, the Puerto Rico insurance commissioner and others argue in a Sept. 3 motion to dismiss filed in a Puerto Rico federal court (Victor J. Salgado and Associates Inc., et al. v. Javier Rivera-Rios, et al., No. 19-1663, D. Puerto Rico)....