Cherilyn Zavatsky | Bloomberg Law MBIA Inc. v. Federal Insurance Co., No. 10-CV-00355, 2011 BL 174746 (2d Cir. July 1, 2011) The U.S. Court of Appeals for the Second Circuit held that MBIA Inc.’s (MBIA) directors and officers (D&O) insurance policies covered the investigative costs incurred in responding to Securities and Exchange Commission (SEC) and New York Attorney General (NYAG) subpoenas. This is the first time an appeals court has ruled to provide such broad coverage of securities claims.
SEC and NYAG Investigations; Shareholder Derivative Suits
Subpoenas Are Covered “Securities Claims”
Derivative Actions Covered
Independent Consultant Costs Covered
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