Rainbow USA Drops $36M Katrina Fight Against Insurer

Law360, New York (May 19, 2011, 4:40 PM EDT) -- A Lousiana federal judge on Thursday dismissed Rainbow USA Inc.'s suit against Nutmeg Insurance Co. that sought $36 million in coverage after Hurricane Katrina, noting the children's clothing retailer agreed to drop the fight against the insurer as part of a settlement.

U.S. District Judge Eldon E. Fallon dismissed the suit with prejudice after Rainbow and Nutmeg filed a joint stipulation of dismissal May 9 informing the court that the children's apparel company had agreed to dismiss its claims. The court has also been notified that...
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