Calif. Court Reverses ANI's $2M Insurance Award

Law360, New York (December 14, 2010, 8:22 PM EST) -- A California appeals court has reversed a judgment of nearly $2 million that Advanced Network Inc. won from its insurance company over coverage in underlying litigation sparked when an employee of the ATM service company stole cash from one of its customers.

In an opinion issued Friday, a three-judge panel of the California Court of Appeal for the Fourth District agreed with Peerless Insurance Co. that a lower court erred when it found that the underlying suit seeking the replacement of the stolen cash counted as...
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