Delaware Judge: Trustee’s Fraudulent Transfer Suit Qualifies As ‘Securities Claim’

Mealey's (October 28, 2022, 3:41 PM EDT) -- WILMINGTON, Del. — A Delaware judge held that a bankruptcy trustee’s lawsuit against Verizon Communications Inc. that settled for $95 million qualified as a “securities claim” under Verizon’s directors and officers insurance coverage, granting Verizon’s motion for summary judgment and denying the insurers’ motions in Verizon’s breach of contract lawsuit....