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
A trial court in New York has ruled that a title insurance policy excluded coverage of claims agains...
Read More >
California Assembly Bill 5 has been branded as the killer of the gig economy. It adds to the Califor...
Read More >
On May 20, 2020, the Securities and Exchange Commission formally adopted amendments to financial dis...
Read More >
On August 20, 2019, the United States Court of Appeals for the Ninth Circuit overturned its long-sta...
Read More >
Employers visiting the EEOC’s website to obtain information regarding employment practices often en...
Read More >
The Second Circuit ruled this month in Lenzi v. Systemax, Inc. that “Title VII does not require a s...
Read More >