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D&O Insurance Acquisitions

Woodruff Sawyer

SPACs Are Back: Takeaways from the 2025 SPAC Conference

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On June 17 and 18, DealFlow Events held its annual SPAC conference, a long-standing gathering of key players in the SPAC ecosystem. I was once again invited to speak at the event, which provided an opportunity to explore...more

Wiley Rein LLP

Fourth Circuit: “Bump-Up” Exclusion Applies When Settlement Seeks to Cure Harms Associated with Undisclosed Conflict of Interest...

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The United States Court of Appeals for the Fourth Circuit, applying Virginia law, has affirmed a district court’s ruling that a “bump-up” provision in a D&O policy applied to bar indemnity coverage for the settlement of...more

A&O Shearman

Delaware Superior Court Holds That Bump-Up Exclusion In D&O Insurance Does Not Apply To Securities Claims Arising Out Of An M&A...

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On January 3, 2025, Judge Paul R. Wallace of the Superior Court for the State of Delaware granted plaintiff’s motion for summary judgment in a directors and officers (“D&O”) insurance denial case against. Harman Int’l Indus....more

Cooley LLP

Will A Bump-Up Exclusion Bar Coverage of an M&A Settlement? It Depends.

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Public company insurance policyholders beware: In recent years, insurance carriers have increasingly invoked the “bump-up” exclusion, which is a carve out provision typically found in directors and officers (D&O) insurance...more

Lowenstein Sandler LLP

Current State of Play with SPAC Litigation and Available Insurance Coverage

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Today, Lynda A. Bennett and Heather Weaver of Lowenstein’s Insurance Recovery Group sit down with Yelena Dunaevsky, Senior Vice President, Transactional Insurance, at Woodruff Sawyer to talk about the current state of SPAC...more

Pillsbury - Policyholder Pulse blog

Say What You Mean: Delaware Court Finds Bump-Up Exclusion Ambiguous as Applied to Mergers Versus Acquisitions

Long a feature of directors’ and officers’ (D&O) liability insurance policies, the so-called “Bump-Up” Exclusion has gotten significant attention over the last few years. Because of the recent escalation in securities...more

Miller Nash LLP

Cautionary Tales of D&O Bump-Up Exclusions

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For some time now, merger-objection and acquisition-objection litigation against buyers of companies have been on the rise. In years past, these cases often settled for not much more than additional-disclosure agreements and...more

Woodruff Sawyer

SPAC Litigation by the Numbers: Surprisingly Positive Trends in 2022

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Tumultuous, exasperating, difficult, nerve-wracking, and frustrating are all apt descriptions of the 2022 SPAC market. We’ve summarized some of its ups and downs in our year in review blog post from October and have touched...more

Woodruff Sawyer

Two Hot Button SPAC Issues as We Wrap Up 2022

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Over the past year, SPACs have been through market shifts, regulatory thrashing, economic issues, novel litigation theories, and SEC enforcement actions. I touched on all of these in my previous post, but for this month’s...more

Woodruff Sawyer

SPAC Notebook: A Year in Review

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It’s been a year since we launched the SPAC Notebook, our monthly column and podcast series, which helps our readers negotiate the risks and traps of the special purpose acquisition company (SPAC) market. Below, we look at...more

Wiley Rein LLP

Exchange Offer Constitutes “an Offer to . . . Sell any Securities” of Insured Triggering Coverage for “Securities Claims”

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The U.S. District Court for the District of New Jersey, applying New Jersey law, has held that a lawsuit brought by a target company’s shareholders against an insured after a failed acquisition that involved a stock exchange...more

Woodruff Sawyer

Looking Ahead to 2023: A Guide for D&O Insurance Renewals [Report]

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Woodruff Sawyer’s 10th annual D&O Looking Ahead Guide is here. In it, you will find expert insights to help guide your 2023 directors and officers (D&O) liability insurance program renewal. Read on for a summary of the...more

Woodruff Sawyer

SPAC Liquidations and Extensions Create D&O Insurance Riddles: Part 1

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Extend or liquidate? Those are the two options for a special purpose acquisition company (SPAC) that has not completed a business combination but is approaching its deadline for finding a suitable target. ...more

Woodruff Sawyer

Shadow Trading: The SEC’s New Angle on Illegal Insider Trading

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Everyone knows that employees cannot buy or sell securities while in possession of material nonpublic information. However, when we think about material non-public information, we usually think in terms of information...more

Woodruff Sawyer

SPACs in Choppy Water: MultiPlan Litigation from the D&O Insurance Perspective

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SPACs are running into choppy water these days. Delaware Court of Chancery’s January 2022 opinion denying motions to dismiss in the MultiPlan Corp. litigation may be a significant source of concern for SPACs. Certainly, the...more

Woodruff Sawyer

Guide to D&O Insurance for De-SPAC Transactions

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There is significant complexity to the process of protecting a company and its directors and officers as they undertake the process of going public. This resource is your guide to the D&O insurance process for de-SPAC...more

Woodruff Sawyer

Guide to D&O Insurance for SPAC IPOs (and How to Save Money on Your D&O Insurance Premium)

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SPACs (special purpose acquisition companies) had a volatile year in 2021, raising more funds in the public market and doing more business combinations than ever before. After an extremely busy first quarter the pace of SPAC...more

Woodruff Sawyer

SPAC Litigation Outlook: 2021 Trends Lead to 2022 Predictions

Woodruff Sawyer on

There was no shortage of excitement and drama in the world of SPACs in 2021. The year started with IPOs of hundreds of SPACs in numbers that eclipsed everyone’s expectations. The exuberance in the SPAC market in the first...more

Woodruff Sawyer

M&A Litigation: Bump-Up Exclusions Update

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One of the trickiest issues for D&O insurance is the so-called “bump-up” exclusion. My colleague Gil Isidro, an expert when it comes to the nuances of D&O contractual language, breaks down the current state-of-play....more

Morrison & Foerster LLP

Is 2021 the Year Of SPACs In Asia? What You Need To Know

Special Purpose Acquisition Companies (“SPACs”) played a critical role in U.S. capital market growth in 2020. There were 248 SPACs launched, raising an aggregate of $83 billion in proceeds. The beginning of 2021 witnessed an...more

Snell & Wilmer

Commercial Impact From the Coronavirus Outbreak – Review Force Majeure and Material Adverse Change Clauses, and Potential...

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Businesses across a wide range of industries are grappling with how to address the practical and legal concerns that have been created by the COVID-19/coronavirus outbreak. Businesses have started asking when and how they...more

McDermott Will & Emery

Corporate Law & Governance Update - August 2018

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New Decision Affects D&O Liability - A recent federal bankruptcy court decision addresses important principles of fiduciary conduct (and the benefits of a state exculpatory statute) in the context of a financially...more

Kilpatrick

Top 10 Things Corporate Attorneys Should Know About Insurance

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Almost every corporate transaction — mergers, purchase and sales, real estate matters, among others — involves some “insurance” related issues. They can range from simple “insurance requirements” in the corporate documents to...more

Adler Pollock & Sheehan P.C.

Glossary of Important Securities Regulation Terms and Definitions

This Glossary is designed to provide law students taking Securities Regulation with a tool that will assist them in learning the basic language of securities law and achieve a working knowledge of the fundamental principles...more

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