Delaware Judge: Appraisal Action Is Not Wrongful Act Under D&O Policy

(March 18, 2022, 11:20 AM EDT) -- NEW CASTLE, Del. — A Delaware judge on March 17 granted in part and denied in part cross-motions for summary judgment in an insured’s breach of contract and bad faith lawsuit against its directors and officers and entity securities liability insurer, finding that an underlying appraisal action is not a wrongful act under the policy and that questions of fact prevent summary judgment on the issue of bad faith and whether coverage claims regarding former directors are not justiciable at this time....