Solera Can Press Bid For $39M Coverage Of Appraisal Action

Law360 (July 31, 2019, 8:47 PM EDT) -- Ruling on an issue of national first impression, a Delaware judge held Wednesday that an appraisal action is a covered securities claim under a directors and officers insurance policy, allowing Solera Holdings Inc. to continue pursuing $39 million in coverage for costs it incurred in stockholders' challenge to its buyout by Vista Equity Partners LP.

Delaware Superior Court Judge Abigail LeGrow denied a motion for summary judgment brought by a host of Solera's excess D&O insurers, including Chubb Ltd. units Federal Insurance Co. and Ace American Insurance Co. Solera is looking to force the carriers to cover its costs to defend...

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!

TRY LAW360 FREE FOR SEVEN DAYS