SEC Investigation Is A Covered Claim, Insured Asserts To Federal Court
Mealey's (March 9, 2016, 8:01 AM EST) -- DENVER — An investigation by the Securities and Exchange Commission constitutes a claim under an insurance policy, an insured argues Feb. 8 to a Colorado federal court in a lawsuit alleging bad faith against its insurer for refusal to reimburse incurred expenses (MusclePharm Corp. v. Liberty Insurance Underwriters, Inc., No. 15-00555, D. Colo.).
(Plaintiff’s opposition to motion for summary judgment available. Document #50-160310-020B.)
On May 16, 2013, MusclePharm Corp. received a letter from the SEC Division of Enforcement advising the sports nutritional product manufacturer that the...