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
Related
The COVID-19 pandemic has caused a sudden disruption to businesses and halted almost all forms of gl...
Read More >
We have previously written about how public-private partnerships ("P3s") are on the rise in the Unit...
Read More >
As the Coronavirus (COVID-19) outbreak continues to spread across the globe, merger and acquisition ...
Read More >
The U.S. government has military bases and outposts around the world, and – as it does within the U...
Read More >
With the start of a new year, in-house counsel and human resources professionals will want to be awa...
Read More >
A new wage theft ordinance coming to the City of Minneapolis in 2020 places more stringent requireme...
Read More >