Evergreen, Ace Settle D&O Row Over Execs' Shares Suit

Law360, New York (September 26, 2011, 5:58 PM EDT) -- Colorado-based Evergreen Energy Inc. on Monday resolved a lawsuit seeking at least $2 million from Ace American Insurance Co. under a directors and officers policy to cover litigation claiming an Evergreen unit underpaid two former executives for their company shares.

A Colorado federal judge dismissed the lawsuit after Ace agreed to pay $750,000 to exit the suit brought by the clean coal technology company and its unit C-Lock Technology Inc, according to a filing with the U.S. Securities and Exchange Commission.

Evergreen and C-Lock argued that...
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Case Information

Case Title

Evergreen Energy, Inc. et al v. ACE American Insurance Company


Case Number

1:11-cv-01700

Court

Colorado

Nature of Suit

Insurance

Judge

Lewis T. Babcock

Date Filed

June 29, 2011

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