Office Depot Sues AIG Unit Over $15M Defense Costs

Law360, New York (April 13, 2009, 12:00 AM EDT) -- Office Depot Inc. has sued a subsidiary of American International Group Inc. to recover roughly $15 million in costs arising from a U.S. Securities and Exchange Commission investigation and two class actions that accused the retailer of violating federal securities laws.

Launched in the U.S. District Court for the Southern District of Florida, Office Depot's suit accuses National Union Fire Insurance Co. of Pittsburgh, Pa. of breaching its obligations to the company by wrongfully denying insurance coverage.

“Despite Office Depot's demands, National Union has wrongfully failed...
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