Judge Enters $1.4M Judgment For D&O Insurer In Coverage Dispute Over SEC Suits

Mealey's (June 14, 2022, 4:20 PM EDT) -- WILMINGTON, Del. — One day after an insurer and its insured stipulated for entry of a $1.4 million judgment in favor of the insurer to expedite the insured’s ability to appeal, a federal judge in Delaware on June 7 signed the order after finding last month that the insurer is entitled to a declaration of no coverage and no bad faith, recoupment of underlying defense costs and summary judgment on all but one of the insured’s counterclaims in a directors and officers liability coverage dispute arising from lawsuits brought by the Securities and Exchange Commission and shareholders....