Law360 Covers Steptoe’s Appellate Win for National Union

June 7, 2016

Steptoe’s success for National Union Fire Insurance Company of Pittsburgh, Pa., was covered by Law360 in an article titled “U-Haul Not Insured For Derivative Action, 9th Circ. Says.”  The article discusses a June 6 decision from the Ninth Circuit upholding the dismissal of a lawsuit by U-Haul’s parent company, AMERCO, which sought coverage under National Union’s D&O policy for $9 million in costs of shareholder litigation.  The court held that the company failed to allege coverage for under exceptions to exclusions for security-holder lawsuits.  The exceptions apply where the actions were instigated and maintained “totally independent” of an insured or member of the Shoen family, which founded and still controls U-Haul, and four subsequent shareholder suits were consolidated by the state court with an action by Paul Shoen.

National Union was represented by Steptoe Phoenix lawyers Tim Strong, Ben Cooper, Erin Bradham, and Doug Janicik, with Mr. Cooper arguing the appeal in the Ninth Circuit. 

The full article can be read at Law360 (subscription required).