Castlerock Sues Insurer For D&O Coverage In IPO Debacle

Law360, New York (October 9, 2012, 2:51 PM EDT) -- Home security company CastleRock Security Holdings Inc. hit Continental Casualty Co. with a lawsuit in Illinois on Friday alleging the insurer is improperly denying CastleRock's directors and officers coverage in litigation over their alleged misconduct during a planned initial public offering.

The security company, its subsidiary CastleRock Security Inc. and Siemens First Capital Commercial Finance LLC are targeted in an underlying suit filed by the Whitecap Fund and Cordell Funding, which owns CastleRock. Whitecap alleges CastleRock’s directors and officers and Siemens worked together to stymie a...
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