Reversal Gives Title Insurers Win In $450M Failed Merger Suit

Law360, New York (August 10, 2012, 10:22 PM EDT) -- A New Jersey federal judge on Friday allowed three title insurers to deflect claims by a wholesale residential mortgage lender that their denial of coverage for a mortgage scam cost it $450 million by scuttling a merger, reversing an earlier ruling finding for the lender.

U.S. District Judge Dickinson R. Debevoise granted a motion to reconsider by Commonwealth Land Title Insurance Co., Fidelity National Title Insurance Co. of New York and Nations Title Insurance, saying the court’s April ruling that had granted damages to Walsh Securities...
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