Illinois Appellate Court Finds D&O Securities Law Exclusion Ambiguous
Tribune shareholders can maintain claim against broker for negligence. An Illinois Appellate Court, applying Illinois law, held that the trial court erred in concluding that an exclusion in a directors’ and officers’ (“D&O”) policy would have precluded coverage for underlying suits filed against policyholders, the Robert R. McCormick Foundation and the Cantigny Foundation (collectively “Policyholders”). Consequently, Policyholders were allowed to... Read More