By Chiara Tondi Resta on Posted in Related Claims and associated exclusions,Securities LitigationIn a case in which Wiley Rein represented the insurer, a federal district court in Maine has held that an insurer had no duty to defend an enforcement action brought by the Securities and Exchange Commission (SEC) under a lawyers’ professional liability policy because none of the relief sought constituted “damages” as defined in the… Continue Reading
By Kimberly M. Melvin and John E. Howell on Posted in Securities LitigationAs has been widely reported, the U.S. Supreme Court has issued its much-anticipated opinion in Halliburton Co. v. Erica P. John Fund, No. 13-317 (Jun. 23, 2014). While predictably – at least after the oral argument in March – the Court left Basic, Inc. v. Levinson and its “fraud of the market” presumption of… Continue Reading
