AHM Asks To Use D&O Policy In $24M Fraud Deal

Law360, New York (August 12, 2009, 3:42 PM EDT) -- American Home Mortgage Holdings Inc. has asked a bankruptcy judge to allow the company's directors and officers insurance policy to cover a $24 million settlement in a securities class action against the leaders of the bankrupt mortgage financing company.

The plaintiffs in the securities action joined AHM in the unopposed motion, which was filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware. The settlement in the class action was given preliminary approval by the U.S. District Court for the Eastern District of New...
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