April 10, 2024
A financial advisory firm's professional liability insurer had no duty to defend the company in underlying securities suits after underlying plaintiffs removed their common law violations, the Sixth Circuit ruled, further allowing the insurer to be reimbursed for some of its defense costs.
March 03, 2023
Stout Risius Ross and its insurer notified a Michigan federal court that they are each appealing a judgment that permitted the insurer to be reimbursed $60,000, which is only part of what it spent defending the advisory firm in an underlying stock suit.
November 01, 2022
A Michigan federal judge on Tuesday granted part of an insurer's request to recoup what it spent defending Stout Risius Ross in a suit accusing the advisory firm of providing faulty stock valuations, permitting the insurer to be reimbursed roughly $60,000.
August 04, 2022
Great American Fidelity Insurance asked a Michigan federal court for a quick win to recoup what it spent defending Stout Risius Ross in a suit accusing the advisory firm of providing faulty stock valuations.
April 06, 2021
Stout Risius Ross has asked a Michigan federal judge to reject Great American Fidelity Insurance Co.'s second bid to escape coverage for a suit accusing the advisory firm of providing faulty stock valuations, saying the policy's ERISA and securities law exclusion doesn't absolve the insurer of its defense.
March 04, 2021
A Michigan federal judge ruled on Thursday that Great American Fidelity Insurance Co. can restart its bid to dodge coverage of a lawsuit accusing advisory firm Stout Risius Ross of faulty stock valuations, reasoning that the stock suit has been reduced to just one claim that's ineligible for coverage.
February 07, 2020
A Michigan federal judge on Friday ruled that Great American Fidelity Insurance Co. must continue to defend advisory firm Stout Risius Ross against claims that it cost Appvion Inc.'s employee stock ownership plan millions by overvaluing shares of the papermaker's parent company.
August 30, 2019
Three current and former employees of financial advisory firm Stout Risius Ross Inc. are saying Great American Fidelity Insurance Co. is asking the wrong court to excuse it from defending them against claims they falsely inflated a company's stock value.
May 06, 2019
Great American Fidelity Insurance Co. has urged a Michigan federal court to declare it doesn't have to defend Stout Risius Ross against claims that the advisory firm cost an Appvion employee stock ownership plan millions by overvaluing the shares of the papermaker's parent company.