Dow Jones Quotes Partner Michael J. Coursey on Food Producers’ Suit Against Insurers and U.S. Govt.
Partner Michael J. Coursey was quoted in a Dow Jones newswires article, “Five Food Producers File $1B Suit Against Insurers, US Govt.” The article discussed the lawsuit filed by “five domestic producers of food products” against a group of insurance companies, the U.S. Department of Commerce and the U.S. Customs and Border Protection, for “negligent issuance of customs surety bonds” which allegedly “allowed the sale of ‘huge amounts of competing food imports’ from China at below cost, or ‘dumped’ prices.” The $1 billion lawsuit was filed in the federal Court of International Trade in Washington.
“‘The dumping of these imports forced the domestic producers to significantly lower the prices for their competing products, causing the producers to lose hundreds of millions of dollars,’ said Michael Coursey, a partner with Kelley Drye & Warren LLP, the law firm representing the domestic producers.”
The five food producers are Sioux Honey Association, Adee Honey Farms, Monterey Mushrooms Inc., The Garlic Co., and Beaucoup Crawfish of Eunice Inc. The defendants include Hartford Financial Services Group Inc., Kingsway Financial Services Inc.‘s unit Lincoln General Insurance Co., Swiss Reinsurance Co.‘s unit Washington International Insurance Co., and American International Group Inc.‘s unit American Home Assurance.
This article was published in multiple news outlets such as The Wall Street Journal, MorningStar.com, SmartMoney.com and CNNMoney.com.