A Federal Court has held that misrepresentation of a corporation's financial condition in the corporation's application for Directors and Officers Liability Insurance warranted Rescission of the D&O Policy: Download Admiral Insurance Co. v. Sonicblue, Inc. (N.D. Cal. Opinion Filed August 14, 2009), also published as Admiral Insurance Co. v. Sonicblue, Inc., 2009 WL 2512197 *7 (N.D. Cal. August 14, 2009)(Westlaw subscription required to access Westlaw). The Court issuing this ruling attempted, apparently in vain, to limit its use: "This disposition is not designated for publication in the official reports." Further, the Online Docket of this case reflects that the Court entered Judgment for the Plaintiff, Admiral Insurance Company, on April 1, 2010.
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Great delivery. Sound arguments. Keep up the good effort.
Posted by: fueled | September 28, 2013 at 12:12 AM