Insurer Owed Nobilis Defense Of Stock Drop Suits: Judge

By Jeff Sistrunk (October 4, 2018, 9:04 PM EDT) -- A Texas federal judge on Thursday ruled that Great American Insurance Co. wrongfully refused to cover Nobilis Health Corp.'s costs to defend two shareholder class action suits accusing Nobilis of artificially inflating its stock price, finding that the suits involved allegations similar to those in an earlier action the insurer had agreed to cover.

U.S. Magistrate Judge Nancy K. Johnson entered partial summary judgment in favor of Houston-based Nobilis on its breach of contract claim against Great American, which had issued the company a directors and officers liability policy for a period spanning October 2014 through October 2015.

Great American had...

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