U. Of Phoenix's $13M AIG Fight May Land At Ariz. High Court

Law360 (April 8, 2019, 7:01 PM EDT) -- The Ninth Circuit on Monday suggested it would likely ask the Arizona Supreme Court for help in determining whether an AIG insurer was justified when it refused to fund the University of Phoenix's $13 million settlement of a securities class action.

At the outset of a hearing, Court of International Trade Judge Gary S. Katzmann — who sat by designation on the three-judge Ninth Circuit panel — pointed out that Arizona's high court has never squarely addressed the meaning of a critical term in a directors and officers insurance policy issued to the for-profit university's parent, Apollo Education Group, providing that...

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