Mealey's (May 18, 2016, 10:38 AM EDT) -- NEW YORK — The Second Circuit U.S. Court of Appeals on May 17 affirmed a lower federal court’s ruling that an insurer has no duty to indemnify the $34.9 million awarded against its insureds in two underlying lawsuits because the insureds' liability was based upon the sale of counterfeit Fendi products and not upon an "advertising injury" pursuant to the policies (United States Fidelity & Guaranty Co. v. Fendi Adele, et al., Nos. 14-3435 and 14-3474, 2nd Cir.; 2016 U.S. App. LEXIS 8973)....