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FOSTER v. SUMMIT MEDICAL SYSTEMS, INC.

No. C5-99-1724.

610 N.W.2d 350 (2000)

David FOSTER, et al., Appellants, v. SUMMIT MEDICAL SYSTEMS, INC., et al., Respondents.

Court of Appeals of Minnesota.

May 16, 2000.

Attorney(s) appearing for the Case

Timothy R. Schupp, Heidi A. Schneider, Gartner Bennett & Schupp, PC, Minneapolis, for plaintiffs-appellants.

Peter S. Hendrixson, Brian E. Palmer, Peter W. Carter, Dorsey & Whitney LLP, Minneapolis, for defendants-respondents.

Considered and decided by HALBROOKS, Presiding Judge, RANDALL, Judge, and HARTEN, Judge.

OPINION

HARTEN, Judge.

Appellants, insurers, challenge the summary judgment holding that respondents' directors' and officers' liability insurance policies provided coverage for losses from securities lawsuits against respondents and from a Securities Exchange Commission (SEC) investigation involving respondents. Because we hold that the insurance policies' retroactive date exclusions bar coverage for the losses from the underlying lawsuits and that the...

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