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Insurance Industry › D&O Insurance › Investigations

Wiley Rein LLP

SEC Tolling Request Not a Securities Claim Against Insured Company Under D&O Policy

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A Delaware Superior Court, applying Delaware law, has held that the United States Securities and Exchange Commission’s (“SEC”) request to toll the statute of limitations did not constitute a “Securities Claim” under a D&O...more

Davies Ward Phillips & Vineberg LLP

Better Late Than Never? Not So for Directors’ and Officers’ Liability Coverage

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Directors and officers facing liability claims, including investigations and enforcement proceedings, must pay careful attention to the notice provisions of their directors’ and officers’ (D&O) liability coverage policies and...more

Woodruff Sawyer

SEC Investigations and D&O Insurance Coverage

Woodruff Sawyer on

In my last post, I explained why a full-blown Securities and Exchange Commission (SEC) investigation often results in legal fees and expenses that run well into seven or eight figures. (Again, this is just for legal costs at...more

Pillsbury - Policyholder Pulse blog

Closing Up the SPAC Shop: Insurance Consequences and Opportunities for Liquidating SPACs

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In 2020 and 2021, Special Purpose Acquisition Companies (SPACs) were all the rage. A SPAC is a “blank check company,” publicly traded, and organized for the purpose of merging with a private company. It’s a mechanism for a...more

Wiley Rein LLP

Kentucky Supreme Court Holds Prior Notice Exclusion Does Not Bar Coverage for Claims Related to Investigation Noticed and Accepted...

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Applying Kentucky law, the Kentucky Supreme Court has held that a prior notice exclusion did not bar coverage for a claim related to a government investigation noticed and accepted by a prior insurer because the insurers were...more

Wiley Rein LLP

Delaware Federal Court: No Coverage Under D&O Policy For Claims Based On Acts Alleged To Have Occurred Prior To Insured Entity’s...

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Applying Delaware Law, the United States District Court for the District of Delaware has held that there is no coverage for acts undertaken by an insured’s directors and officers that occurred prior to the formation of the...more

Wiley Rein LLP

Court Declines to Dismiss Coverage Litigation Based on Potential Applicability of Prior Notice Exclusion

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The United States District Court for the District of Delaware has held that, where the matters at issue in securities litigation and attendant claims plausibly did not “arise out of” the matters underlying a notice of...more

Lowenstein Sandler LLP

In the Know: The Lowenstein Insurance Recovery Group’s Tip of the Month - October 2021

Lowenstein Sandler LLP on

A recent coverage case from Illinois is a helpful reminder to policyholders that they should not take no for an answer when insurers deny a claim based on uninsurability, restitution, disgorgement, or fraud. In fact, those...more

Carlton Fields

New York Federal Court Rejects Argument That SEC Investigation Constitutes a “Securities Claim” Under D&O Policies

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Recent Delaware decisions reveal a trend of insureds seeking to expand the definition of “Securities Claims” in their D&O policies, and Delaware courts refusing to do so. You can read our discussion on those rulings here and...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

Hiding in Plain Sight: Obtaining Insurance Coverage in White Collar Criminal Investigations and Complex Civil Litigation

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An attorney is outside counsel to a midsized, closely held corporation. The attorney reports to a group of officers and directors. The client was just served at corporate headquarters with a grand jury subpoena in connection...more

K&L Gates LLP

Insurance Coverage for CFPB Investigations and Enforcement Actions

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Many companies and individuals that are facing investigations or subsequent enforcement actions by the Consumer Financial Protection Bureau (“CFPB”) will be forced to incur substantial sums to defend such claims, to settle...more

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