BEI, Insurer Settle $20M Gold Theft Coverage Suit

Law360, New York (April 14, 2011, 5:57 PM EDT) -- BEI Sensors & Systems Co. Inc. and Great American Insurance Co. on Thursday resolved a coverage dispute in California over alleged damages that the manufacturer suffered when employees stole $20 million in gold.

Judge Saundra Brown Armstrong of the U.S. District Court for the Northern District of California approved the case's dismissal based on a settlement between the parties.

The terms of the settlement were not immediately available on Thursday. Attorneys for the parties did not immediately return requests for comment.

In March, Judge Armstrong denied...
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