1st Circ. Overturns Toss Of Genzyme D&O Coverage Suit

Law360, New York (October 13, 2010, 7:12 PM EDT) -- A federal appeals court ruled Wednesday that Genzyme Corp. may be entitled to coverage under a Federal Insurance Co. directors and officers policy for a portion of a $64 million securities class action settlement with investors, partially overturning a lower court's ruling.

The U.S. Court of Appeals for the First Circuit held that, although the policy does not cover the amount paid to settle claims against the biotechnology company itself, it does provide coverage for any settlement amounts paid to indemnify Genzyme's directors and officers....
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