FEDERATED ADMINISTRATIVE SERVICES et al v. ENDURANCE AMERICAN INSURANCE COMPANY et al
Case Number:
2:23-cv-01239
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June 12, 2024
Judge Won't Trim $18M Shareholder Settlement Coverage Suit
A Pennsylvania federal judge declined to toss certain bad faith allegations against an insurer accused of wrongfully denying coverage for an $18 million settlement between an asset management company and a group of shareholders, adopting a magistrate judge's recommendation that the company sufficiently alleged its claim of bad faith.
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July 10, 2023
$18M Shareholder Settlement Needs Coverage, Court Told
Two insurers wrongfully failed to provide coverage for an $18 million settlement between an asset management company and a group of shareholders, the company told a Pennsylvania federal court, arguing that one insurer acted in bad faith by denying coverage and the other never provided a coverage determination.