Insurer Cannot Dodge Energy Biz's Suit, Judge Says
Law360 (July 21, 2020, 11:23 PM EDT) -- A California federal judge refused Scottsdale Insurance Co.'s bid to toss a suit brought by policyholder Stem Inc. seeking defense in a suit accusing it of breaching fiduciary duty, holding that Scottsdale failed to demonstrate "the absence of any potential for coverage."
U.S. District Judge Charles R. Breyer said Monday that Scottsdale has fallen short in proving that it has no duty to defend energy company Stem because the policy exclusion of Stem's directors and officers, which bars coverage for suits between policyholders, does not apply.
The judge pointed out that former Stem executive Stacey Reineccius, the plaintiff in the underlying action...
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!