Ace Asks 2nd Circ. To Preserve Win Over Facebook IPO Deal
By Jeff Sistrunk ( March 27, 2017, 3:16 PM EDT) -- Ace American Insurance Co. has asked the Second Circuit to affirm U.S. District Judge Jed Rakoff's ruling that it doesn't have to cover Beazley Insurance Co.'s share of Nasdaq's $31 million settlement of investors' claims over the botched Facebook initial public offering, saying the judge properly applied a "professional services" exclusion....
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