April 29, 2021
An AIG insurance unit has urged the Ninth Circuit to hold that the Arizona Supreme Court's recent ruling on a certified question means it doesn't have to fund the University of Phoenix's over $13 million settlement in a proposed securities class action.
February 17, 2021
Arizona's high court gave the Ninth Circuit a roadmap Wednesday to decide whether an AIG insurer was justified in refusing to fund the University of Phoenix's settlement for over $13 million in a proposed securities class action, saying the appeals court must evaluate whether the refusal was reasonable from the insurer's perspective.
August 15, 2019
The Ninth Circuit asked the Arizona Supreme Court on Thursday for help determining whether an AIG insurer was justified when it refused to fund the University of Phoenix's $13 million settlement of a securities class action.
April 08, 2019
The Ninth Circuit on Monday suggested it would likely ask the Arizona Supreme Court for help in determining whether an AIG insurer was justified when it refused to fund the University of Phoenix's $13 million settlement of a securities class action.
June 25, 2018
The University of Phoenix's parent company on Friday asked the Ninth Circuit to overturn a decision finding an AIG unit had a valid reason to fight on rather than pay the $13 million settlement of a class action securities suit, saying important facts are in dispute.
January 09, 2018
Courts around the country are set to grapple with critical coverage issues under directors and officers insurance policies in 2018, including at what point a U.S. Securities and Exchange Commission investigation triggers coverage and when an insurer can withhold consent for a policyholder's settlement.