Insurer Owes Dole $12M Over Investor Suits, Del. Justices Say

By Jeff Sistrunk (March 3, 2021, 10:29 PM EST) -- Delaware's high court affirmed Wednesday that RSUI Indemnity Co. owes more than $12 million toward $222 million in settlements that Dole Food Co. and its CEO struck to resolve stockholder suits over alleged fraud in a 2013 take-private deal, clarifying that state law permits coverage for claims of fraudulent conduct.

The unanimous Delaware Supreme Court upheld a slew of rulings by a state court judge that resulted in RSUI having to pay out the full $10 million limit of the excess directors and officers policy it issued to Dole, plus more than $2.3 million in interest.

Critically, Delaware Superior Court Judge...

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