The United States Securities and Exchange Commission has increased its focus in recent years on investment advisers who manage private funds. The Division of Enforcement of the SEC reported that in fiscal year 2019, 36% of all civil and stand-alone
A Texas court of appeals found no coverage under two excess directors and officers liability policies for an appraisal action brought by dissenting shareholders to a merger pursuant to Section 262 of the Delaware General Corporation Law. Zale Corp. v.
The United States District Court for the District of Connecticut, applying Connecticut law, has denied cross-motions for summary judgment, finding that fact issues remain with regard to whether the insured reasonably could have expected a pre-policy period enforcement notice to
The United States Court of Appeals for the Eleventh Circuit, applying Georgia law, has held that an insurer has a duty to defend a lawsuit where an award of attorneys’ fees might constitute covered “Loss,” even though the lawsuit did
The United States District Court for the Southern District of Florida, applying Michigan law, has ruled that an insurer did not owe an attorney and his firm a duty to defend under a professional liability policy because, among other things,
The United States District Court for the Northern District of West Virginia, applying West Virginia law, has held that an insurer had no duty to defend or indemnify its insured because two exclusions and the definitions of “damages” and “claim”
Applying Kentucky law, a federal district court has held that a subpoena issued to an insured company was not a “Claim” under a D&O policy’s Side B coverage because the subpoena failed to identify an “Individual Insured.” Springstone, Inc. v.
The United States District Court of Connecticut, applying federal law, has denied an insured’s motion to dismiss or stay the insurer’s first-filed declaratory judgment action in deference to a subsequently filed, substantially similar coverage action filed by the insured in
Applying Texas law, the United States District Court for the Eastern District of Texas granted an insurer’s motion to dismiss where an insured sought fiduciary liability coverage for amounts it paid to defend and indemnify the trustee for the insured
The United States District Court for the Southern District of Florida, applying Michigan law, has ruled that an insurer did not owe an attorney and his firm a duty to defend under a professional liability policy because, among other things,
