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Doormaker Hits Insurers With $10M Suit For Class Settlement
Law360 (July 14, 2021, 7:34 PM EDT) A North Carolina doormaker is suing its insurers in federal court for $10 million in coverage for the settlement and cost of an underlying investor class action that accused the company of manipulating its stock price by concealing a $76 million liability to a competitor.
Manufacturer Jeld-Wen on Tuesday filed a cross-claim against Travelers Casualty and Surety Co. of America, and leveled another third-party suit against Old Republic Insurance Co. for coverage of the class action, which it settled last month. The company told the court that Travelers owes it coverage under a directors and officers policy, but said that it. ....

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