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Delaware Superior Court Finds Securities Class Action and Its Opt Outs Subsequent Class Action Are Related Claims | Carlton Fields

Delaware Superior Court Finds Securities Class Action and Its Opt Outs Subsequent Class Action Are Related Claims | Carlton Fields
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United statesNational union fire insurance company of pittsburghDelaware superior courtXl specialty insurance coSecurities exchangeFirst solar incUnion fire insurance companyNational union fire insurance companyFirst solarSecurities exchange actWrongful actsSmilovits actionMaverick actionஒன்றுபட்டது மாநிலங்களில்தேசிய தொழிற்சங்கம் தீ காப்பீடு நிறுவனம் ஆஃப் பிட்ஸ்பர்க்டெலாவேர் உயர்ந்தது நீதிமன்றம்

Solar Panel Co Loses Bid For Coverage Of Shareholder Suit

Solar Panel Co Loses Bid For Coverage Of Shareholder Suit
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United statesMarym johnstonDelaware superior courtXl specialty insurance coNational union fire insurance coFirst solar incFirst solarNational union fire insuranceJudge maryஒன்றுபட்டது மாநிலங்களில்டெலாவேர் உயர்ந்தது நீதிமன்றம்க்ஸல் சிறப்பு காப்பீடு இணைதேசிய தொழிற்சங்கம் தீ காப்பீடு இணைமுதல் சூரிய இன்க்முதல் சூரியதேசிய தொழிற்சங்கம் தீ காப்பீடு

NY Jeweler Says Insurance Covers Mayor Donor s $6 3M Theft

ADVERTISEMENT ADVERTISEMENT NY Jeweler Says Insurance Covers Mayor Donor s $6.3M Theft Law360 (March 3, 2021, 10:35 PM EST) A New York jeweler said an AXA insurance affiliate has wrongfully refused to cover its loss after Jona Rechnitz, a disgraced former donor to New York Mayor Bill de Blasio, stole over $6.3 million worth of jewelry to pay off his crippling debt. M.J.S. Diamond, a former business partner of Rechnitz, told a California judge Monday that it was targeted by the de Blasio fundraiser as part of his eight-figure fraud scheme to rip off jewelers from coast to coast. In the complaint, M.J.S. said XL Specialty Insurance Co. has denied its loss claim even though another AXA affiliate paid over.

New yorkUnited statesJona rechnitzXl specialty insurance coNew york mayor bill de blasioபுதியது யார்க்ஒன்றுபட்டது மாநிலங்களில்க்ஸல் சிறப்பு காப்பீடு இணைபுதியது யார்க் மேயர் ர சி து டி ப்ளாஸிவ்

New York Court Finds Securities Settlements Not Covered by D&O Policies Due to Insured Capacity and Uninsurable Loss Issues | Carlton Fields

A New York trial court recently granted summary judgment to a group of excess D&O insurers seeking a declaration that their policies do not cover settlements and consent judgments the defendants paid in connection with underlying securities actions. The decision emphasizes the insured capacity limitation in the D&O policy definition of a “wrongful act” and also reinforces that amounts paid as disgorgement are uninsurable as a matter of New York law. Continental Casualty Co., Argonaut Insurance Co., Freedom Specialty Insurance Co., and QBE Insurance Co. were part of a tower of D&O coverage issued to AR Capital LLC. AR Capital and other defendants Bellevue Capital Partners, Nicholas Schorsch, Edward Weil, William Kahane, and Peter Budko sought coverage from the insurers for their share of amounts paid to settle multiple consolidated securities class actions, a derivative litigation, and an SEC enforcement action.

New yorkUnited statesPeter budkoWilliam kahaneJoelm cohenEdward weilNicholas schorschCompany itFirst departmentPerson of the companyContinental casualty coYork appellate divisionArgonaut insurance coYork county commercial divisionJar capitalXl specialty insurance co

Calamos Can t Tap Travelers Policy For Stockholder Suit Deal

ADVERTISEMENT ADVERTISEMENT Calamos Can t Tap Travelers Policy For Stockholder Suit Deal Law360 (February 22, 2021, 6:03 PM EST) A Delaware federal judge has ruled that a Travelers unit doesn t have to help cover Calamos Asset Management s $22 million settlement of a consolidated stockholder class action over its 2017 merger with insider-controlled businesses, finding that the stockholders suit didn t constitute a covered securities claim. U.S. District Judge Maryellen Noreika granted summary judgment Friday to Travelers Casualty & Surety Co. of America, absolving the insurer of any coverage obligations under an excess directors and officers policy it issued to Calamos. The Travelers policy followed the terms of Calamos primary D&O policy with XL Specialty Insurance Co., which covered only losses stemming.

United statesMaryellen noreikaTravelers casualty surety coXl specialty insurance coCalamos asset managementJudge maryellen noreikaTravelers casualtyஒன்றுபட்டது மாநிலங்களில்பயணிகள் விபத்து பிணையம் இணைக்ஸல் சிறப்பு காப்பீடு இணைபயணிகள் விபத்து