Mealey's (May 11, 2023, 12:10 PM EDT) -- RICHMOND, Va. — Finding that a federal court “adopted an unduly narrow reading” of a directors and officers liability insurance policy’s “bump-up” exclusion, the Fourth Circuit U.S. Court of Appeals vacated the ruling that the exclusion does not unambiguously preclude coverage for the $90 million settlement of two underlying lawsuits arising from a 2015 merger and remanded for further proceedings....