Insurer Must Pay Merge $3M In Attys' Fees, 7th Circ. Says

Law360, New York (July 16, 2013, 6:02 PM EDT) -- Carolina Casualty Insurance Co. on Tuesday lost a bid to escape full payment to Merge Healthcare Solutions Inc. of a $3.15 million attorneys' fee award in securities litigation when the Seventh Circuit found a policy exclusion did not apply to attorneys' fees.

The appeals court affirmed an Illinois federal judge's ruling by determining that all of the awarded fees except the lodestar $630,000 figure, which was multiplied to reach $3.15 million, fell under a policy exclusion for "the multiplied portion of multiplied damages."

The lower court...
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