Stanford Case Could Spark New D&O Strategies

Law360 (October 20, 2010, 5:04 PM EDT) -- A court ruling that effectively stripped alleged Ponzi schemer Robert Allen Stanford of insurance coverage for his mounting legal bills may well have been the product of unusual — if not bizarre — circumstances, but its oddities won't necessarily prevent it from being a lodestar for future cases, experts warn.

An Oct. 13 ruling by Judge Nancy F. Atlas of the U.S. District Court for the Southern District of Texas that left Stanford and two other former Stanford Financial Group Co. executives without defense coverage stemmed from a rare combination of the strange facts of the Stanford case, uncommon wording in...

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