AIG Loses Bid for Quick Ruling Over M&A Misrepresentations Case

Several open factual questions preclude an early ruling in a dispute between an American International Group Inc. unit and a Texas energy company over coverage for misrepresentations allegedly made in an M&A deal, a Delaware state judge said.

Delaware Superior Court Judge Paul R. Wallace denied AIG Specialty Insurance Co.'s motion for summary judgment in a Tuesday order.

Reps and warranties insurance—intended to cover losses resulting from breaches of sellers’ representations and warranties in M&A deals—is rarely litigated, though AIG was recently sued by a different policyholder seeking coverage for losses stemming from a 2023 deal.

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