Panel Affirms Ruling In Insurer’s Favor In Suit Brought By Company’s Directors

(August 20, 2019, 1:15 PM EDT) -- ST. LOUIS — The Eighth Circuit U.S. Court of Appeals on Aug. 16 affirmed a lower court’s summary judgment ruling in favor of a directors and officers liability insurer in a coverage lawsuit arising from underlying claims that an energy company’s subsidiary breached a finance agreement and contractual warranties, finding that the lower court properly held that the insured’s directors did not satisfy their burden of proving an allocation of the underlying costs that was different from the one proposed by the insurer (John Brand, et al. v. National Union Fire Insurance Company of Pittsburgh, PA, No. 18-1372, 8th Cir., 2019 U.S. App. LEXIS 24488)....

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