United States Ninth Circuit

In a challenge to insurers' denial of coverage for an underlying shareholder class action arising from plaintiffs' merger, summary judgment to one insurer is reversed where summary judgment was incorrect on the issue of whether a settlement paid by one plaintiff to the other's shareholders to settle certain remaining claims was entirely restitutionary relief, in light of the conflicting evidence as to the nature of those claims. Summary judgment to another insurer is affirmed as plaintiff was fully compensated from any loss by other plaintiff's payment of the settlement and any other costs or expenses.

Appellate Information

• Argued 06/09/2006
• Decided 10/26/2006
• Published 10/26/2006

Judges

• GOULD, Circuit Judge., Before KOZINSKI and GOULD, Circuit Judges, and RICARDO S. MARTINEZ, District Judge.

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• Michael Bruce Abelson, Abelson Herron LLP, Los Angeles, CA, for plaintiffs-appellants Pan Pacific Retail Properties, Inc. and Western Properties Trust.


• For Appellees:
  
• David T. DiBiase, Anderson, McPharlin & Connors LLP, Los Angeles, CA, for defendant-appellee Gulf Insurance Company.  Stephen H. Sutro, Duane Morris LLP, San Francisco, CA, for defendant-appellee Twin City Fire Insurance Company.