The first suit was filed in 2014 and, following a trial two years later, the Court of Chancery issued an opinion finding two Dole officers liable for $148 million and referencing fraud. A settlement negotiation then began, and two days after it was settled for $115 million, the second suit was filed. (Credit: Shutterstock)
A recent Delaware Supreme Court decision upholding coverage for Dole Food Co. Inc. marks a win for companies wanting to cash in on D&O liability insurance coverage.
The court upheld a Superior Court decision, stating that neither Delaware law nor RSUI Indemnity Co.'s policy removed RSUI's coverage duty in two lawsuits settled against Dole, and it may have given Delaware the most comprehensive larger settlement rule in the country.
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Ellen Bardash
Ellen Bardash is ALM's reporter covering corporate litigation for Law.com and Delaware Business Court Insider. She can be contacted by emailing [email protected] or following @ellenbardash.bsky.social on Bluesky.
