Insurers Ask Del. Justices To Ax Solera's Appraisal Coverage

Law360 (September 16, 2020, 9:22 PM EDT) -- Excess insurers for Solera Holdings Inc. urged the Delaware Supreme Court on Wednesday to rule that the software company cannot pursue coverage for tens of millions of dollars in costs it incurred in a stockholder appraisal action challenging its buyout by Vista Equity Partners, arguing the action was not a covered "securities claim."

Arguing via Zoom for a pair of Chubb Ltd. units, John L. Reed of DLA Piper told the Delaware justices that a state judge got it wrong in July 2019 when she ruled that the appraisal action qualified as a securities claim, which is defined in Solera's directors...

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