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ARS derivative suits will need to overcome business judgment rule
- Edwards Wildman Palmer LLP
- -
- USA
- -
- October 12 2010
In the past few months, several derivative suits against mutual fund issuers of auction rate securities (ARS) have hit the courts
Virginia court follows First Circuit’s Genzyme reasoning, rejects carrier’s bid to recoup $15mm D&O payout
- Edwards Wildman Palmer LLP
- -
- USA
- -
- December 17 2010
Following the reasoning of the First Circuit in its Genzyme decision, a federal court in Virginia has granted summary judgment to an insured whose carrier had sued to recoup a $15 million settlement under a D&O policy
First Circuit remands D&O coverage dispute for allocation
- Edwards Wildman Palmer LLP
- -
- USA
- -
- November 2 2010
Reversing a district court holding to the contrary, the First Circuit has declared that Massachusetts public policy does not prohibit D&O carriers from insuring against damages allegedly incurred by one class of shareholders as a result of an unfair benefit conferred on another class of shareholders
