Panel: No Coverage For Insured’s ‘Deliberately Fraudulent’ Conduct In SEC Suit

(June 17, 2019, 2:18 PM EDT) -- ATLANTA — The 11th Circuit U.S. Court of Appeals on June 11 affirmed a lower court’s ruling in favor of a directors and officers liability insurer, finding that there is no coverage under the policy because the insured was found to have engaged in “deliberately fraudulent” conduct in an underlying civil lawsuit brought by the Securities and Exchange Commission (Daniel Imperato v. Navigators Insurance Company, No. 17-12959, 11th Cir., 2019 U.S. App. LEXIS 17359)....

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