Michaels, Arch Settle Data Theft Coverage Fight

Law360, New York (September 10, 2012, 2:54 PM EDT) -- Arch Insurance Co. and Michaels Stores Inc. on Friday told an Illinois federal judge they had reached a tentative agreement to settle their coverage dispute stemming from underlying putative data breach class actions against the arts and crafts retail giant.

In a joint motion, Arch and Michaels asked the court to stay all proceedings and defer any ruling on their pending cross-motions for partial summary judgment, both of which were filed in June, saying the companies had reached an agreement in principle.

Details of the proposed...
To view the full article, register now.