6th Circ. Junks Goodyear's Securities Suit Coverage Claims

Law360, New York (September 17, 2012, 7:30 PM EDT) -- The Sixth Circuit on Monday affirmed a ruling that Federal Insurance Co. does not owe Goodyear Tire & Rubber Co. $10 million in excess coverage for legal fees incurred during a series of shareholder lawsuits over a $280 million accounting restatement.

Goodyear sought to overturn a lower court's decision denying it coverage for a portion of $30 million in fees from the suits under a Federal policy requiring that the company first exhaust its $15 million policy limit with underlying insurer National Union Fire Insurance Co....
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