UMG Works Out Deal To End $3M Coverage Suit

Law360, New York (January 4, 2012, 10:30 PM EST) -- UMG Recordings Inc. on Wednesday resolved its suit in California federal court against American Home Assurance Co. claiming the insurer breached a contract by failing to pay $2.8 million in legal fees and costs for an underlying Racketeer Influenced and Corrupt Organizations Act lawsuit.

U.S. District Judge Gary A. Feess signed off on an order dismissing the case after the parties filed a stipulation saying they'd reached a deal. Further details on the settlement were not immediately available.

UMG's breach of contract suit accuses American Home...
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