Qualcomm Loses Legal Fee War With Lloyd's

Law360, New York (March 27, 2008, 12:00 AM EDT) -- A California appeals court has upheld a ruling that underwriters at Lloyd's, London, are not obligated to pay excess legal fees related to Qualcomm Inc.'s defense of an employee class action over company stock options.

The Court of Appeal of California, Fourth District on Tuesday affirmed a lower court ruling that held that Lloyd's was not liable for excess legal fees because Qualcomm settled a coverage dispute with its primary insurer, National Union Fire Insurance Co. of Pittsburgh, Pa., for less than the full policy limit....
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