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...
To view the full article, register now.

Documents

Related

Sections

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

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.