Continental Wants Out Of Policy Tainted By Securities Scheme

Law360, New York (March 9, 2012, 8:32 PM EST) -- Continental Casualty Co. on Friday asked a federal judge to grant it summary judgment in a suit seeking to rescind its insurance policies to accounting firm Marshall Granger & Co. LLP after one of the firm's executives pled guilty to a fraudulent securities scheme.

The insurer says Laurence Brown, a former co-managing partner at the firm, lied in response to questions Continental Casualty asked when his firm was applying for a new policy, hiding his role as a participant in the scheme.

Brown was prosecuted by...
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