Medidata, Insurer Denied Wins In $4.8M Fraud Coverage Suit

By Jeff Sistrunk (March 10, 2016, 6:14 PM EST) -- A New York federal judge on Wednesday refused to determine whether or not Medidata Solutions Inc. is entitled to coverage from a Chubb unit for a $4.8 million loss it suffered when it was tricked into wiring the money overseas, saying there is not enough evidence to make a ruling.

In a brief order, U.S. District Judge Andrew L. Carter Jr. denied dueling motions for summary judgment filed by Medidata and Chubb Corp. unit Federal Insurance, citing an "insufficient record." The judge granted the parties time to conduct discovery limited to establishing the method in which the fraudster sent emails to...

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