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Applying California law, the United States District Court for the Eastern District of California has held that an antitrust exclusion in a D&O policy bars coverage for lawsuits alleging violation of antitrust laws, violation of consumer protection and unfair competition laws, and unjust enrichment. Beazley Ins. Co. v. Foster Poultry Farms, 2024 WL 3904994 (E.D. Cal. Aug. 22, 2024). The court also concluded that payments by the insured in excess of amounts paid by the primary carrier pursuant to a settlement agreement with the insured did not erode the primary policy under an excess carrier’s policy language.

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