A federal appeals court reversed a win for an American International Group Inc. unit in a directors and officers insurance coverage dispute with a casino operator, sending the case back to a lower court.
The US District Court for the District of Nevada erred by treating underlying claims for breach of contract, fraud, and quantum meruit as a single claim for insurance coverage purposes, the US Court of Appeals for the Ninth Circuit said in an unpublished opinion Monday.
The ruling stems from litigation surrounding Las Vegas Sands LLC’s demand for coverage from National Union Fire Insurance Co. of Pittsburgh, ...