D&O Policy Covers Some Losses In Investor Suit: 7th Circ.

Law360, New York (June 29, 2012, 4:43 PM EDT) -- The Seventh Circuit on Friday struck down part of a district court ruling that St. Paul Mercury Insurance Co. need not cover Strategic Capital Bancorp Inc.'s costs in an investor suit, saying some claims must be covered even though people on both sides of the suit were covered under the same directors and officers policy.

The appeals court said the insurer must cover losses from claims brought by the two plaintiffs not covered under the directors and officers policy, granting in part a motion filed jointly...
To view the full article, register now.

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.