Chubb Investors Clear Legal Hurdle in Fight for Vote on Proposal

A lawsuit accusing Chubb Ltd. of improperly excluding a stockholder proposal can continue, but a federal judge says she’s so far unconvinced by the shareholder plaintiff’s argument.

Judge Sparkle L. Sooknanan denied both Chubb’s motion to dismiss the lawsuit and shareholder advocate As You Sow’s motion for a preliminary injunction to require a vote on the proposal, according to a March 31 memorandum opinion filed in the US District Court for the District of Columbia.

As You Sow failed to show a likelihood of winning the case against the global insurance giant, according to the opinion. Federal regulation allows ...