Firms Win Bid To Toss Indemnity Suit By Azon Execs

Law360, New York (October 14, 2008, 12:00 AM EDT) -- A New York appeals court has sided with two law firms in a suit brought by the directors of paper company Azon Corp. seeking implied indemnification for the multimillion-dollar cost of defending and settling an employee class action.

The fourth judicial state appellate court dismissed the amended complaint against firms Bond Schoeneck & King PLLC and Coughlin & Gerhart LLP on Friday, saying the Azon executives were never liable to the employees and had no need for indemnity.

The case stems from a decision by the...
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