Amira Sues Insurer To Cover US Shareholder Suit Costs
By Silvia Martelli (September 30, 2021, 5:40 PM BST) -- A Dubai-based food supplier sued to force its insurer to cover its costs of defending a U.S. lawsuit brought by its shareholders over the company's allegedly inflated financial reporting.
Amira Nature Foods Ltd., which sells rice and other items in the U.S., told the High Court in a written complaint on Sept. 21 that its London-based insurer Endurance Worldwide Insurance Ltd. should cover all the legal costs it faced while defending itself in a U.S. class action.
The class action was brought by shareholders in 2015 after Amira was targeted by an investor that published an allegedly fraudulent report against Amira...
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