D&O Carriers, Don't Put Away Those Checkbooks Yet

Law360, New York (April 7, 2010, 12:39 PM EDT) -- Within just a few days of each other, two different federal appellate courts issued recent opinions that critically examined directors and officers liability insurers’ obligations to advance defense expenses.

On March 16, 2010, in a case involving claims related to alleged swindler R. Allen Stanford, the Fifth Circuit ruled that two D&O insurers must pay the legal expenses of several executives accused of running one of the largest Ponzi schemes in U.S. history — at least until a lower court decides their coverage dispute.

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