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PENN SECURITIES CO. v. HOME INDEM. CO.

No. 75-1226 Civil.

418 F.Supp. 292 (1976)

PENN SECURITIES COMPANY et al. v. HOME INDEMNITY COMPANY and Insurance Company of North America.

United States District Court, M. D. Pennsylvania.

March 31, 1976.

Attorney(s) appearing for the Case

Peter G. Loftus, Scranton, Pa., for plaintiffs.

Daniel Mungall, Jr., Stradley, Ronon, Stevens & Young, Philadelphia, Pa., Arthur Silverblatt, Wilkes-Barre, Pa., Paul E. Barrett, Nogi, O'Malley & Harris, Scranton, Pa., for defendants.

MEMORANDUM AND ORDER

NEALON, District Judge.

Plaintiffs, all subsidiaries of Pennsylvania Life Company (Penn Life) engaged in the business of selling securities to the public,1 seek in this action a declaratory judgment affirming the existence of insurance coverage under two fidelity bonds issued by defendant Insurance Company of North America (INA) and one such bond issued by defendant Home Indemnity Company (Home). INA is a...

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