Wiley Rein's Charles C. Lemley, representing XL Specialty Insurance Company, said: "The reason they didn't hesitate is because this happens frequently: securities class actions are filed, then there's an opt-out, then there's a tagalong, and they're always treated as a single claim, absent some really extraordinary circumstances." (Credit: Said M/Shutterstock.com)
In a virtual argument before the Delaware Supreme Court, counsel for Arizona-based solar power component manufacturer and services provider First Solar Inc. said two insurance companies should be required to pay for the defense of two federal securities suits because each case dealt with a different element of First Solar's business and a different set of allegedly false and misleading statements.
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Ellen Bardash
Ellen Bardash is ALM's reporter covering Delaware litigation for Delaware Law Weekly and Delaware Business Court Insider. She can be contacted at [email protected], on Twitter @Dellenware or on Threads @ellenbardash.
