X
19Nov

California Court Broadens A D&O Policy’s Bump-Up Exclusion To Bump Out Coverage

Recently, a California state court expanded a “bump up” exclusion in excess D&O policies to bar coverage for a settlement of a shareholder class action lawsuit against Onyx and its directors and officers. The shareholders alleged that the directors and officers failed to maximize a buyer’s offer to purchase Onyx’s shares. By upholding the denial of coverage for the $30 million settlement, the court broadened the bump-up exclusion far beyond its traditional limited and intended application to...
By: Lowenstein Sandler LLP
Source Url: https://www.jdsupra.com/legalnews/california-court-broadens-a-d-o-policy-64133/

Related

[Audio] Daily Compliance News: July 30, 2019, are CEOs sociopaths edition

In today’s edition of Daily Compliance News: 1. In a provocative piece the NYT Dealbook explores a...

Read More >

Sherlock Holmes Week: The Adventure of the Blue Carbuncle and Compliance Using Data

Welcome back to Sherlock Holmes week. It does look like I will got carried away and it will become 1...

Read More >

OFCCP Issues Supplemental CSAL – Were You Selected For A New VEVRAA Focused Review?

On November 8, 2019, OFCCP released its Corporate Scheduling Announcement List (“CSAL”) Supplement...

Read More >

Mexico: Increase to the UMA Value Announced for 2020

On January 9, 2020, the National Institute of Statistics and Geography (INEGI by its acronym in Span...

Read More >

COVID-19 UK: Energy and Infrastructure – Update on Site Operating Procedures in the Construction Industry – Update

The Construction Leadership Council (CLC) has now published version 3 of the Site Operating Procedur...

Read More >

Massachusetts Construction Back up and Running, but COVID Concerns Linger

As public health measures slow the spread of COVID-19, the Commonwealth and its municipalities have ...

Read More >