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Breach of Duty › Fiduciary Duty › Policy Exclusions

Wiley Rein LLP

Applying a “Meaningful Linkage” Standard, Delaware Superior Court Concludes Two Lawsuits Do Not “Arise Out Of” Interrelated...

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The Delaware Superior Court has held that an underlying shareholder lawsuit and prior litigation alleging certain common facts did not arise out of Interrelated Wrongful Acts, and did not trigger either the Prior Notice or...more

Wiley Rein LLP

Ninth Circuit Affirms Ruling That Section 533 Bars Coverage for Defense Costs and Indemnity When Claims Broadly Allege Willful...

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The United States Court of Appeals for the Ninth Circuit, applying California law, has affirmed a district court’s determination that California Insurance Code § 533 barred indemnity and defense costs coverage for a lawsuit...more

Morris James LLP

Superior Court Declines to Dismiss Counterclaims Based on “Interrelated Wrongful Act” Clause in D&O Coverage Dispute Arising Out...

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National Amusements Inc. v. Endurance American Specialty Insurance Co. (Del. Super. April 28, 2023) - In this D&O insurance coverage dispute, the plaintiffs moved to dismiss the defendant insurers' counterclaims, which...more

Wiley Rein LLP

Insurers Owe Coverage for Settlement Despite Bump-Up Provision

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Applying Delaware law, the Superior Court of the State of Delaware has held that a bump up provision did not bar coverage of a settlement that resolved claims asserting breaches of fiduciary duty. On December 4, 2019, the...more

Wiley Rein LLP

Warranty Letter Bars Coverage for Claim Against Chief Legal Officer Arising From CEO’s Alleged Fraud

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The United States District Court for the District of Nevada, applying Nevada law, has held that a warranty letter executed by the insured’s CEO prior to the issuance of an excess D&O policy barred coverage for a claim made...more

Carlton Fields

Seventh Circuit Reverses Prior Ruling After Reexamining Exclusion Clause

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After a panel rehearing, the Seventh Circuit in Emmis Communications Corp. v. Illinois National Insurance Co., No. 18-3392 (7th Cir. Aug. 21, 2019), vacated a prior judgment and withdrew an opinion issued in July 2019,...more

Butler Snow LLP

Sixth Circuit’s holding that debtor in possession and liquidating trustee are one in the same for purposes of...

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The Sixth Circuit Court of Appeals recently took up the controversial issue of whether a liquidating trustee’s lawsuit, alleging breach of fiduciary duty against a corporate debtor’s officers, falls within the...more

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