D&O Insurer Seeks Recoupment Of $9.6M Policy Limits From Under Armour

(September 30, 2022, 1:29 PM EDT) -- BALTIMORE — A directors and officers liability insurer filed suit a federal court in Maryland, seeking a declaration that it owes no coverage to Under Armour Inc. for underlying investigations brought by the U.S. Securities and Exchange Commission and the U.S. Department of Justice, shareholder demand letters and a securities class action, as well as recoupment of the $9,650,000 in policy limits that it paid for Under Armour’s underlying defense costs....