Company: Insurer Owes Defense Under D&O Policy For SEC Investigation

Mealey's (October 22, 2018, 2:59 PM EDT) -- NEW YORK — A company recently asked the Second Circuit U.S. Court of Appeals to reverse a lower court’s decision in favor of its insurer, which refused to provide defense coverage for an investigation and ensuing enforcement action by the U.S. Securities and Exchange Commission against the company and its chief executive officer.  The company contends that the lower court incorrectly found that the claim for coverage was asserted prior to the policy coverage period (Patriarch Partners LLC v. AXIS Insurance Company, No. 17-3022, 2nd Cir.)....