Firm Obtains Dismissal of Purported Class Action Lawsuit Against Directors of Insurance Company in a $2.5 Billion Acquisition
The Firm represents the directors of Medical Liability Mutual Insurance Company in a purported class action lawsuit against them arising out of the insurance company's demutualization and its simultaneous acquisition in October 2018 for approximately $2.5 billion by a member of the Berkshire Hathaway Group of Insurance Companies. Castagna, et al. v. Capotorto, et al., Index No. 516767/2018 (N.Y. Supreme Court, Kings County).
On February 27, 2019, Brooklyn Commercial Division Justice Sylvia Ash granted the director defendants' motion to dismiss the amended complaint, immediately following oral argument.