Judge:  Directors, Officers Liability Insurers Engaged In A ‘Race To The Courthouse’

Mealey's (August 12, 2021, 11:59 AM EDT) -- WILMINGTON, Del.— A Delaware judge on Aug. 11 denied primary and excess directors and officers liability insurers’ motion to dismiss or, alternatively, stay a publicly traded diversified holding company and its affiliates’ breach of contract and bad faith seeking coverage for underlying putative class action lawsuits alleging that they improperly manipulated the unit price of an oil refiner and marketer of transportation fuels in the lead up to the exercise of a call right, finding that even if the insurers argued their motion under traditional forum non conveniens standards, they cannot prove overwhelming hardship if they are forced to litigate in Delaware....