Office Depot Denied Coverage For SEC Costs

Law360, New York (October 18, 2010, 12:43 PM EDT) -- A federal judge has ruled that two Office Depot Inc. insurance policies do not cover certain costs related to an internal investigation and a U.S. Securities and Exchange Commission inquiry, putting the company's campaign to recover more than $22 million from its insurers in doubt.

Judge Kenneth A. Marra of the U.S. District Court for the Southern District of Florida issued the ruling Friday. Although the policies in the case covered losses arising from securities claims, Judge Marra said, that did not include Office Depot's costs...
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