Lloyd's Converts $20M Goldman Accident Suit To Class Action

By Kaitlin Ugolik (September 25, 2012, 5:39 PM EDT) -- Lloyd's of London underwriters won a bid Monday to drop several plaintiffs from their suit seeking to determine coverage liability for a $20 million construction accident at Goldman Sachs Group Inc.'s headquarters in Manhattan, converting the suit to a class action.

After four of six of the defendant insurers won summary judgment last year and two others failed to escape claims, Lloyd's discovered that the court lacked complete diversity jurisdiction because some of the underwriters involved were actually New York residents.

U.S. District Judge Loretta A. Preska ruled Monday that the nondiverse plaintiffs, part of a syndicate known as Atrium, are...

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