US Liability Gets Case Over D&O Exclusion Tossed

Law360, New York (July 14, 2010, 3:52 PM EDT) -- A federal judge has shot down Ideal Development Corp.'s bid to recover losses arising out of three state court lawsuits from United States Liability Insurance Co., ruling that the suits were excluded from coverage because they involved claims that originated with a former member of Ideal's board of directors who launched a tender offer for the company.

Judge Paul A. Magnuson of the U.S. District Court for the District of Minnesota signed off on an order Monday granting U.S. Liability Insurance's motion to dismiss.

The insurer...
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