ICC Continues Quest For Fraud Coverage In 2nd Circ.

Law360, New York (January 15, 2010, 2:47 PM EST) -- Investors Capital Corp. has appealed a ruling that Quanta Lines Insurance Co. is not required to provide the securities investment company coverage for arbitration proceedings stemming from an ex-employee's alleged fraudulent acts.

ICC lodged a notice of its intent to appeal the Dec. 17 summary judgment decision from Judge Peter K. Leisure of the U.S. District Court for the Southern District of New York to the U.S. Court of Appeals for the Second Circuit on Thursday.

Judge Leisure found that three specific policy provisions bar coverage...
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