Court Rejects Insurers’ Argument that Insureds Breached D&O Insurance Policies by Failing to Cooperate and Settling Lawsuits for $222 Million Without Consent

The Delaware Superior Court ruled that insurers could not rely on Written Consent and Cooperation clauses in directors and officers liability insurance policies to avoid coverage for settlements by Dole Food Company, Inc. (“Dole”) in shareholder disputes involving fraud in a go-private transaction.…