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Potter Anderson Client Obtains Ruling on Issue of National First Impression in D&O Case

August 8, 2019

Ruling on an issue of national first impression, Delaware Superior Court Judge Abigail LeGrow held that an appraisal action is a covered securities claim under a directors and officers insurance policy. The ruling allows Potter Anderson client Solera Holdings Inc., a leading global provider of risk and asset management software and services, to continue pursuing $39 million in coverage for costs it incurred in a stockholders’ challenge to its 2016 buyout by Vista Equity Partners LP.

Serving as co-counsel to Pillsbury, Potter Anderson’s team for Solera is led by partner David Baldwin with associates Carla Jones and Tracey Timlin.

The case is Solera Holdings Inc. v. XL Specialty Insurance Co. et al., case number N18C-08-315.

News of the ruling was reported by Law360 and The D&O Diary.