Insurance for Fraudulent Misconduct Does not Violate Delaware Public Policy

The insurance coverage litigation arising from the settlement of the shareholder claims filed in connection with the Dole Food Company’s November 2013 “going private” transaction continues to grind on. In the latest development in the coverage dispute, a Delaware Superior Court judge has entered a number of interesting rulings, deciding among other things that an underlying determination that an insured committed fraud does not make the claim uninsurable as a matter of Delaware law. Delaware Superior Court Judge Eric Davis’s March 1, 2018 opinion in the Dole Foods coverage litigation can be found here.     Background In November 2013, Dole Foods CEO David Murdock, acting through a holding company, took Dole private through a transaction in which he acquired the Dole shares he did not already own. Dole shareholders filed multiple lawsuits against Dole, Murdock, and the company’s General Counsel and Chief Operating Officer, C. Michael…

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