Federal Seeks To Toss Omega's $5M Coverage Suit
By Nick Malinowski ( April 26, 2010, 1:30 PM EDT) -- Federal Insurance Co. has asked a judge to toss a suit brought against it by Omega Advisors Inc., which accuses its insurer of denying coverage for $5 million in losses the company suffered through the malfeasance of an employee who led Omega into a failed $140 million purchase of federal Azerbaijan privatization securities and allegedly skimmed money from the investment pool....
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