June 12, 2024
A Pennsylvania federal judge declined to toss certain bad faith allegations against an insurer accused of wrongfully denying coverage for an $18 million settlement between an asset management company and a group of shareholders, adopting a magistrate judge's recommendation that the company sufficiently alleged its claim of bad faith.
July 10, 2023
Two insurers wrongfully failed to provide coverage for an $18 million settlement between an asset management company and a group of shareholders, the company told a Pennsylvania federal court, arguing that one insurer acted in bad faith by denying coverage and the other never provided a coverage determination.