Arizona Panel: Claim Similar To ‘Wrongful Acts’ Alleged In Securities Fraud Suit

(March 7, 2016, 1:36 PM EST) -- PHOENIX — An Arizona appeals panel on March 3 found that a lawsuit against an insured’s directors and officers was based in large part on the same or similar “wrongful acts” that were at issue in a previously filed securities fraud class action, affirming a lower court’s ruling in favor of a directors and officers liability insurer (SP Syntax LLC, et al. v. Federal Insurance Co., No. 1 CA-CV 14-0638, Ariz. App., Div. 1; 2016 Ariz. App. Unpub. LEXIS 278).

(Memorandum decision available. Document #13-160317-008Z.)...
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