GeoStar Says Insurer's Misrepresentation Claims Fail

Law360, New York (September 9, 2009, 1:41 PM EDT) -- GeoStar Corp., an energy firm that came under fire from investors over its side business in thoroughbred horse breeding, has asked a court to rule that Great American Insurance Co. may not rescind coverage of the investor litigation on the basis of alleged misrepresentations in applying for policies.

GeoStar and several principals and affiliates filed a motion Sept. 8 to dismiss certain claims brought by Great American, an excess insurer, in the U.S. District Court for the Eastern District of Michigan.

Great American’s allegations related to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.