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Northrop Unit Beats Bids To Toss 'Sprawling' Coverage Suit
Law360 (February 2, 2021, 10:59 PM EST) -- A Delaware judge on Tuesday bolstered Northrop Grumman Innovation Systems Inc.'s bid to tap into directors and officers insurance to cover its costs in a proposed class action accusing its predecessor of misleading investors about its financial health, rejecting insurers' efforts to invoke a pair of policy exclusions.
Ruling on a flurry of motions in what he described as a "sprawling" coverage dispute, Delaware Superior Court Judge Paul R. Wallace found that the underlying putative class action against the Northrop unit's predecessor, Orbital ATK Inc., is covered under two sets of D&O policies and may also be covered by a third...