Law360, New York (May 10, 2012, 9:23 PM ET) -- A federal judge ordered XL Specialty Insurance Co. on Thursday to continue paying defense costs for Level Global Investors LP and several of the hedge fund's employees, who were allegedly involved in a $62 million tech stock insider trading ring.
U.S. District Judge Paul E. Engelmayer said at a hearing that he would grant a preliminary injunction ordering XL to cover the defense costs of Level Global and several men who have been accused of swapping stock tips gleaned from corporate insiders at Dell Inc....
XL Must Keep Covering Legal Fees In $62M Stock Trading Case
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