October 31, 2022
Liberty Mutual doesn't owe ceramics manufacturer Ceradyne Inc. any coverage for shareholder lawsuits resulting from its acquisition by 3M, a California federal judge ruled Monday, finding the company didn't suffer a covered loss under its policy.
October 12, 2022
Ceradyne Inc. told a California federal court that Liberty Mutual can't avoid covering the company for now-settled shareholder lawsuits arising from its acquisition by 3M, arguing that the insurer failed to establish that a "bump-up" exclusion precludes coverage for the settlement.
October 04, 2022
Liberty Mutual told a California federal court it shouldn't have to cover Ceradyne Inc. for now-settled shareholder lawsuits stemming from the company's acquisition by 3M, pointing to an insurance policy's "bump-up" exclusion and arguing that Ceradyne didn't suffer any loss since 3M paid to settle those suits.