Virtu's Access To Insurer's Files Curbed In $11M Hacking Fight

By Daniel Tay (September 21, 2021, 5:38 PM EDT) -- A New York federal court barred Virtu from seeking documents from a third party that the court has already determined are irrelevant to the financial services provider's claims that Axis Insurance wrongly refused to cover $11 million it lost in a hacking incident.

U.S. Magistrate Judge Katharine H. Parker said Monday that Virtu Financial could not sidestep her previous determination that the company can't go after certain documents in Axis' possession by requesting them from Marsh & McLennan Cos., Axis Insurance's broker, or any third party. Any documents the broker produces in response to a subpoena by Virtu must comply with...

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