(Photo: Shutterstock.com) Cashless Payment Co. Sues Insurance Carrier for Withholding Coverage For Securities Suits, Fed Investigations
This suit was surfaced by Law.com Radar. Read the complaint here.
January 06, 2022 at 11:12 AM
1 minute read
Insurance
AXIS Insurance was sued Wednesday in Pennsylvania Eastern District Court for allegedly breaching its obligations to provide coverage under an excess D&O liability policy. The suit, brought by Affeld Grivakes LLP and LeVan, Muhic & Stapleton on behalf of cashless payment company Cantaloupe Inc., contends that AXIS wrongfully withheld coverage for defense and settlement costs associated with a series of securities lawsuits, shareholder demands and federal investigations. Counsel have not yet appeared for the defendant. The case is 2:22-cv-00030, Cantaloupe Inc. v. AXIS Insurance Company.
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