IndyMac Suit Against D&O Insurers, Directors Tossed

By Rachel Slajda (September 8, 2011, 1:29 PM EDT) -- A California federal judge on Wednesday tossed the rest of IndyMac Bancorp Inc.'s case against several insurers and former directors, which sought coverage in underlying suits over its mortgage-backed securities, two weeks after dismissing the bulk of the claims as unripe.

U.S. District Judge R. Gary Klausner ruled that IndyMac failed to show why he shouldn't throw out the rest of the case. He said the bank can bring the suit again once the claims are ripe, after the underlying cases are resolved.

IndyMac, a bankrupt California bank under federal receivership, had sued a dozen insurers over $160 million in directors...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!