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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!