Valeant had $10 million in coverage with AIG Insurance Co. of Canada and $140 million in excess coverage from various other insurance companies. The policies include coverage for securities claims, and Valeant claimed that the shareholders' claims fall under that category, but the insurance companies disagreed. Valeant sued various insurance companies for breach of contract. (Credit: Ron Antonelli)
A federal judge in Trenton, New Jersey, ruled that potential insider-trading claims stemming from Valeant Pharmaceuticals' failed takeover of Allergan Inc. are covered under a directors and officers, or D&O, policy.
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Charles Toutant
Charles Toutant is a litigation writer for the New Jersey Law Journal.
