Mealey's Banking & Finance - Judge: Insurer Not Entitled To Equitable Contribution Of Shareholder Suit Costs

Mealey's Banking & Finance - Judge: Insurer Not Entitled To Equitable Contribution Of Shareholder Suit Costs

OAKLAND, Calif. - A California federal judge on May 28 found that an excess insurer has no duty to contribute to costs arising from the defense and settlement of an underlying shareholder lawsuit brought against former directors and officers of a bank insured (Progressive Casualty Ins. Co. v. St. Paul Fire and Marine Ins. Co., No. C 12-04918 JSW, N.D. Calif.; 2014 U.S. Dist. LEXIS 73220).

Find full version on lexis Advance®
Access this news story on lexis.com®