J.P. MORGAN SECURITIES, INC., et al., Respondents,
v.
VIGILANT INSURANCE COMPANY et al., Appellants.
Appellate Division of the Supreme Court of New York, First Department.https://leagle.com/images/logo.png
Decided September 20, 2018.
Decided September 20, 2018.
Attorney(s) appearing for the Case
Holwell Shuster & Goldberg LLP, New York City (James M. McGuire, Daniel M. Sullivan and Gregory Dubinsky of counsel), and DLA Piper LLP (US), New York City (Joseph G. Finnerty III, Megan Shea Harwick and Eric S. Connuck of counsel), for Vigilant Insurance Company and another, appellants.
Kaufman Borgeest & Ryan LLP, New York City (Scott A. Schechter, Andrew E. Oldis and Matthew Mawby of counsel), for Liberty Mutual Insurance Company, appellant.
Drinker Biddle & Reath LLP, Philadelphia, PA (David F. Abernethy of the New Jersey and Pennsylvania bars, admitted pro hac vice, of counsel), and New York City (Marsha J. Indych of counsel), for The Travelers Indemnity Company, appellant.
D'Amato & Lynch, LLP, New York City (Kevin J. Windels, Luke D. Lynch and Liza A. Chafiian of counsel), for National Union Fire Insurance Company of Pittsburgh, PA, appellant.
Clyde & Co. US LLP, New York City (Edward J. Kirk, Gabriela Richeimer and Matthew Prutting of counsel), for Certain Underwritters at Lloyd's, London, appellant.
Landman Corsi Ballaine & Ford P.C., New York City (William Ballaine of counsel), for American Alternative Insurance Corporation, appellant.
Proskauer Rose LLP, New York City (Steven E. Obus and Seth Schaffer of counsel), for respondents.
SWEENY, J.P., RICHTER and KAHN, JJ., concur.
OPINION OF THE COURT
ANDRIAS, J.
In this insurance dispute arising out of the insured's monetary settlement of a Securities and Exchange Commission (SEC) proceeding and related private litigation predicated on the insured's violations of federal securities laws, we conclude that defendant...
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