Christopher Bannon Obtains Summary Judgment for Accountants' Professional Liability Insurer

12.15.08

Litigation attorney Christopher Bannon recently obtained summary judgment in favor a professional liability insurer in a Louisiana suit involving insurance coverage for an accountant accused of securities laws violations and related wrongful acts.  The accountant filed suit against our client, seeking a ruling that the insurer must defend him in the underlying securities case.  In ruling in our client’s favor, the court found that the underlying claims did not arise from the accountant’s professional services.  The court found, instead, that the suit arose from the accountant’s alleged involvement in the promotion or sale of securities, which the insurance policy did not cover.  The court therefore entered judgment in favor of the insurer.