Directors & Officers Liability Insurance

MedTech Litigate for Founders
Past Highlights
The Judge granted summary judgement against Michael Tillmann, founder of Vela Diagnostics, for breach of fiduciary
duties in authorising payments for insurance to the then CFO of Vela Diagnostics, Romi Chandiramani and, for breach of
fiduciary duties in authorising the salary increase of his wife, Elena Sidoruk Tillmann.
CA 146/2020
HC/S 965/2019
The Court held that Gong Ruizhon, the Founder and director of Tendcare Medical (Tian Jian Hua Xia Medical Group),
was liable for fraudulent trading and breaches of fiduciary duties, and found several other defendants jointly liable for
dishonest assistance.
CA 28/2021
HC/S 426/2018
The Judge dismissed the plaintiffs’ claims of dishonesty against Dr Ting Choon Meng, the founder of Healthstats. The
plaintiffs’ alternative claim for damages based on the Misrepresentation Act also fails.
HC/S 1140/2018
The Court found that the co-founders of International Healthway, Fan Kow Hin and Mr Andrew Aathar, engaged in
conspiracy against the company. The Catalist-listed International Healthway Corp (IHC) is now known as OUE Lippo
HC/S 441/2016
Directors & Officers Liability Insurance
Being a company director or officer makes you vulnerable to allegations of wrongful acts in the course of doing your job.
D&O liability insurance protects your company through indemnification should your directors and officers be found liable
for legal misconduct, errors, and allegations. No matter the size of your organisation, this policy protects you from claims
made against you by a host of third parties – from shareholders to customers. It lets you focus on running the company
instead of worrying over protracted litigation.
Rishi Shah, co-founder and CEO of Outcome Health, and Shradha Agarwal, president of Outcome Health and branded as
a co-founder, were charged in alleged $1 billion fraud scheme. Also charged in that indictment were Brad Purdy, chief
operating officer and chief financial officer, and Ashik Desai, executive vice president of business operations and, more
recently, chief growth officer of Outcome for their alleged roles in an elaborated fraud scheme that targeted the company’s
clients, lenders and investors.
Case: 1:19-cv-07528
The founders of microbiome-testing startup uBiome, Zachary Schulz Apte and Jessica Sunshine Richman, have been
charged with defrauding investors out of $60 million by convincing them it was a successful business before being forced
to shutter operations, declare bankruptcy and flush all its assets in late 2019.
Case 3:21-cv-01911
Mark Schena, the founder and president of Arrayit Corporation, was charged with one count of securities fraud and one
count of conspiracy to commit health care fraud after authorities said his company billed Medicare $69 million for
coronavirus and unnecessary allergy tests.
Case 5:21-cv-01053