9th Circuit Rejects Investors’ Argument That Excess Coverage Was Triggered

Mealey's (April 2, 2018, 1:27 PM EDT) -- PASADENA, Calif. — The Ninth Circuit U.S Court of Appeals on March 30 held that under either New York or California law, excess coverage was not triggered in a coverage dispute arising from a breach of fiduciary class action brought against a bankrupt subprime mortgage company’s officers and directors (Ruth Ann Wunderman-Cooper, et al. v. Certain Underwriters at Lloyd's London, No. 15-56671, 9th Cir., 2018 U.S. App. LEXIS 8127)....