Sirius XM Sues D&O Insurers For Post-Merger Defense Costs

Law360, New York (March 11, 2013, 1:28 PM EDT) -- Sirius XM Radio Inc. sued a pair of insurers in New York on Friday, alleging they breached directors and officers policies by refusing to cover more than $5 million in defense costs it incurred while combating class action and individual shareholder suits over the company's allegedly monopolistic 2008 merger.

In a complaint launched in the Supreme Court of New York, Sirius XM claims that XL Specialty Insurance Co. and U.S. Specialty Insurance Co. breached various D&O policies by denying defense coverage in a series of suits...
To view the full article, register now.