This Simpson Thacher & Bartlett LLP memorandum discusses a US Supreme Court decision which holds that a class action may proceed in federal court despite a specific state law to the contrary; two recent "advertising injury" decisions; a decision relating to a directors and officers (D&O) insurer's obligation to advance defenses costs in connection with an alleged Ponzi scheme; a New York court ruling on the allocation period for asbestos claims; and an "occurrence" decision that focuses on a "location of occurrences" analysis.