Securities
Feb. 14, 2024
Company insurance must cover executives facing SEC subpoenas
The policy “clearly contemplates the advancement of defense costs for potentially covered claims, subject to recoupment by the insurer if it ultimately turns out that the claims are not actually covered,” according to a federal court ruling.
A biotechnology company’s insurance policy issued by AmTrust International may include coverage for executives facing subpoenas by the U.S Securities and Exchange Commission, a federal judge in San Jose ruled.
Granting 180 Life Sciences Corp.’s motion for partial summary judgment, U.S. District Judge Beth Labson Freeman wrote in her order Monday that the policy “clearly contemplates the advancement of defense costs for potentially covered...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In