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Many businesses incur substantial defense costs and liabilities arising from claims of securities law violations and so-called "business torts," yet some overlook the potential for insurance to cover those expenses. We have a leading national practice in assisting policyholders in their efforts to secure such coverage.
Stockholder actions alleging securities law violations can impose significant liabilities on corporations and on the individuals who run them. Our insurance lawyers have successfully secured directors and officers (D&O) insurance coverage for such liabilities.
Other business tort claims, such as trademark, copyright, and patent infringement, as well as antitrust and unfair competition, also threaten some corporate policyholders with potentially large liabilities and related defense costs. Many businesses are unaware that these claims may be covered by the standard "advertising injury" or "personal injury" clauses found in many general liability policies. We offer comprehensive counseling services in the area of "advertising injury" coverage, and we have successfully litigated trademark infringement coverage issues.
Representative Matters
- Representation of Adelphia Communications in litigation over D&O coverage and rescission claims.
- Representation of Merck & Co., Inc. in connection with claims for D&O coverage for shareholder lawsuits related to Vioxx.
- Representation of Fortune 500 company in litigation over coverage under a media errors and omissions liability policy for unfair business practices and false advertising claims.
- Representation of Morgan Stanley in a New York lawsuit filed by Lloyd's disputing coverage under a financial institutions professional liability insurance policy.
- Representation of Owens Corning in litigation with its D&O carrier, in which we obtained an appellate decision affirming a favorable judgment and fee-shifting award. Owens Corning v. National Union Fire Ins. Co., 257 F.3d 484 (6th Cir. 2001).
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