We’ve written before about the follow-on decision from Solera* which found that an appraisal claim can count as a “securities claim” for D&O policy purposes – see Lowenstein’s alert on the topic. Coverage of that decision continues.
- National case of first impression comes out in favor of policyholders.
- Decision leaves a number of areas open.
- Decision also contains important language on pre-judgment interest.
- Case provides “strong support” to policyholders, but the specific policy wording matters.
*Lowenstein Sandler was counsel to petitioners in the underlying Solera appraisal case.