Rebecca Sciarrino and Jeremy Lawrence of Munger, Tolles & Olson LLP co-authored an article for the Daily Journal titled “Recent Decisions Provide a Roadmap for Securing D&O Insurance Coverage for Settlements with the SEC”.
The article discusses potential hurdles – including nuanced policy language and public policy considerations – that policy holders face in obtaining coverage for disgorgement settlements. The article also provides an in-depth analysis of recent case law that could potentially open a pathway to coverage for SEC settlements that involve disgorgement.
The article concludes that there are several considerations for attorneys to keep in mind while evaluating these types of settlements. First, attorneys should examine what the term “penalty” means in connection with relevant insurance laws in the local jurisdiction. Second, lawyers should examine the policy language that addresses insurance coverage for disgorgement of wrongfully obtained property. Third, lawyers should consider relevant public policy rules concerning disgorgement in the jurisdiction in question.
This article highlights one of the many areas of law that attorneys at Munger, Tolles & Olson specialize in. Click here to read the article. To learn more about the firm, visit https://www.mto.com.
About Jeremy Lawrence and Rebecca Sciarrino
Jeremy Lawrence is a litigation partner in the firm’s San Francisco office. He has substantial experience representing policyholders in coverage disputes and bad faith claims involving a variety of first- and third-party insurance policies, including general liability policies, D&O policies, professional liability/E&O policies, property and business interruption policies, commercial crime policies, and representation and warranty policies.
Rebecca Sciarrino is a litigation associate in the San Francisco office and focuses her practice on high-stakes commercial litigation, with a focus on antitrust, white collar and investigations. Becca Sciarrino has represented clients in the surface transportation, higher education, technology, consulting, and manufacturing industries. She also maintains an active pro bono practice.
