• Insurance Coverage for Research Analyst Settlement: Mixed Decision
  • January 20, 2006 | Authors: John H. Gross; Kenneth E. Aldous
  • Law Firm: Proskauer Rose LLP - New York Office
  • Last week, in Vigilant Insurance Company et. al., v. The Bear Stearns Companies Inc., a New York court issued a mixed decision in Bear Stearns' dispute with its insurers for coverage for its settlement of the Research Analyst Investigation. The motion court decided that the combined settlement payment of $30 million for independent research and investor education was potentially covered. But the court ruled that the $25 million settlement payment characterized as "disgorgement" was not.