RSUI Off Hook For $65M Forest Lab Drug Info Settlement

Law360, New York (September 14, 2012, 6:55 PM EDT) -- RSUI Indemnity Co. doesn't have to help Forest Laboratories Inc. pay for a $65 million securities class action settlement over the safety information on the drugmaker's Celexa and Lexapro antidepressants because other insurers didn't exhaust their policies first, a New York state judge ruled Friday.

Judge Melvin L. Schweitzer said Georgia-based RSUI Indemnity, the last in a line of one primary and seven excess insurers in an $80 million "tower" of insurance coverage, had language in its policy saying it didn't have to pay up unless...
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