Learning From Office Depot V. National Union

Law360, New York (November 22, 2011, 12:45 PM EST) -- In an unpublished per curium opinion, the U.S. Court of Appeals for the Eleventh Circuit affirmed that Office Depot's executive and organization liability policy did not cover defense costs incurred in voluntarily responding to an informal U.S. Securities and Exchange Commission inquiry, nor costs incurred in conducting an internal investigation and audit triggered by a whistleblower complaint over alleged accounting improprieties. Office Depot Inc. v. National Union Fire Ins. Co. et al., No. 11-10814 (Eleventh Cir. Oct. 13, 2011); on appeal from the Southern District of...
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