Panel: No Directors, Officers Liability Coverage For Securities Holders’ Claims

Mealey's (June 7, 2016, 10:41 AM EDT) -- SAN FRANCISCO — The Ninth Circuit U.S. Court of Appeals on June 6 held that an insured failed to demonstrate that securities violations claims against it fell under a directors, officers and corporate liability insurance policy’s exception to the “insured v. insured” exclusion, affirming a lower federal court’s dismissal of the insured’s breach of contract and bad faith lawsuit against its insurer (AMERCO v. National Union Fire Insurance Company of Pittsburgh PA, No. 14-16041, 9th Cir.; 2016 U.S. App. LEXIS 10209).

(Opinion available. Document #13-160616-005Z.)...
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