Insurer Must Defend Body Armor Maker In Shareholder Fight
Law360 (January 28, 2020, 6:53 PM EST) -- A Pennsylvania federal court ruled that a body armor and sports equipment company facing a shareholder lawsuit over alleged mismanagement is entitled to a defense from its insurer, which failed to trigger policy exclusions by lumping the suit in with allegations in a separate case.
RSUI Indemnity Co. couldn’t convince the court that the shareholder suit is part of a larger alleged conspiracy by Unequal Technologies Co. founder Robert Vito, who is accused of mismanaging the business and scuttling a proxy vote that challenged his power. An insurance exclusion for prior related acts therefore does not apply, the court ruled Monday....
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