XL Ends Coverage Suit Over Michaels Data Breach

Law360, New York (August 8, 2013, 4:45 PM EDT) -- XL Insurance America Inc. has dropped its coverage lawsuit against Michaels Stores Inc. over seven class actions blaming the arts and crafts retailer for data theft from stores in more than 20 states, according to court documents filed Monday in New York.

XL and Michaels told the New York County court that the excess insurer was dismissing its suit without prejudice and without any costs awarded to either side. The stipulation was signed July 25 and received by the court Monday.

Attorneys for the parties did...
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