Federal Judge Transfers Coverage Dispute Arising From Alleged ‘Sham’ Investments
(July 28, 2016, 1:34 PM EDT) -- DULUTH, Minn. — A Minnesota federal judge on July 26 granted an investment adviser’s motion to transfer an insurer’s lawsuit seeking a declaration that it has no duty to defend against an underlying action brought by the investment adviser’s former client (Everest Indemnity Insurance Co. v. Daniel Ro., No. 16-1064, D. Minn.; 2016 U.S. Dist. LEXIS 97698).
(Order available. Document #13-160804-020R.)
Daeil Ro was employed by Ameriprise Financial Services Inc. as a registered investment adviser. In April 2015, Ro was sued in a Washington...