IPO King Stung by Cybercriminals Faces Doubts in Insurance Row

Former Goldman Sachs banker Eric Dobkin’s false advertising claims against his longtime insurance broker HUB International Limited were met with skepticism Tuesday by a panel of New York judges, who seemed to disagree that HUB violated the law.

Dobkin, who’s known as the father of the modern initial public offering, sued HUB for misrepresenting the services it could offer its wealthier clients after he and his wife, Barbara, fell victim to a cyber crime. HUB was unable to cover the $2.75 million loss because the Dobkins didn’t have an insurance policy that covered cyber losses, according ...