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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
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
