Insurer Must Pay A&F's Securities Defense: 6th Circ.

By Evan Weinberger

Law360, New York (March 12, 2010, 2:27 PM ET) -- A federal appeals court has ordered Federal Insurance Co. to cover Abercrombie & Fitch Co.'s defense costs in a pending securities class action, affirming an order from a lower court.

The U.S. Court of Appeals for the Sixth Circuit upheld the ruling in a split 2-1 decision issued Thursday, saying that under Ohio law, it had to follow the “plain and ordinary meaning” of the insurance contract Abercrombie and Federal agreed to.

The lawsuit dates back to 2006, when the clothing company sued Federal for a...
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