In this month’s update, we discuss cases involving related wrongful acts, wildfires, concealment of a weapon, concealment of climate risks, and road rage. We begin in Delaware, where the state’s high court determines...more
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
New York Court of Appeals Holds That Disgorgement Payment Under SEC Settlement Not Excluded As A Penalty Imposed By Law- The Securities and Exchange Commission (SEC) alleged that Bear Stearns facilitated late trading and...more
The U.S. District Court for the Southern District of New York has held that a long-running investigation by the SEC constituted a “Claim” triggering the pending and prior claims exclusion in an excess directors and officers...more