D&O Insurance: Liberalization Endorsement Allows Insureds to Rely On New Policy Form’s Enhanced Insured Vs. Insured Exclusion Carve-Back

By | The D&O Diary | June 30, 2014
D&O Insurance: Liberalization Endorsement Allows Insureds to Rely On New Policy Form’s Enhanced Insured Vs. Insured Exclusion Carve-Back

On June 19, 2014, in a case involving so many unusual coverage issues that it seems more like a law school exam question than an actual coverage dispute, New York (New York County) Supreme Court Judge Melvin Schweitzer, applying New York law, granted summary judgment for the former directors of the bankrupt Lyondell Chemical Company who sought coverage from their company’s excess D&O insurers for their costs of defending themselves in an adversary action in the bankruptcy proceeding.

Eighth Circuit Allows NFL Players to “End Run” Class Action Settlement

Eighth Circuit Allows NFL Players to “End Run” Class Action Settlement

On June 20, 2014, the U.S. Court of Appeals for the Eighth Circuit reversed a district court’s dismissal of a request by the NFL Players’ Association and several NFL players (collectively, the “Association”) to set aside and reopen an earlier Stipulation and Settlement Agreement with the National Football League (“NFL”).

U.S. Supreme Court Decision Gives More Latitude to Defeat Securities Fraud Class Action Lawsuits Prior to Class Certification

In Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317, __ S Ct. __, 2014 WL 2807181 (U.S. June 23, 2014), the United States Supreme Court refused to overturn the landmark decision Basic v. Levinson, but ruled that securities class action defendants may rebut the fraud-on-the-market presumption of investor reliance before the class certification stage by demonstrating lack of price impact.