Private equity investment firm—Arbitration win in dispute over coverage for underlying False Claims Act litigation

Successfully argued a motion to reconsider, convincing an arbitration panel to reverse an adverse summary disposition ruling and instead grant summary disposition in favor of our client, a private equity investment firm seeking coverage for losses arising from underlying False Claims Act actions and related $23 million settlement with the U.S. Department of Justice. Following a damages hearing, the panel awarded our client the full amount of indemnity plus defense costs and pre-award interest. The New York Supreme Court, New York County denied the insurer’s petition to vacate the award and instead granted our cross-motion to confirm.