Texas High Court Partly Vacates Ruling In $220M SEC Fraud Coverage Suit

(February 28, 2024, 12:32 PM EST) -- AUSTIN, Texas — The Texas Supreme Court conditionally granted in part insurers’ request for mandamus relief in an insured’s lawsuit seeking directors and officers liability insurance coverage for an underlying $220 million securities class action settlement, finding that the lower court abused its discretion in concluding that the settlement is binding or admissible in the coverage lawsuit....