AIG Unit Settles D&O Coverage Dispute With Luggage Brand Away

Premium luggage company Away and an American International Group Inc. unit agreed to settle a dispute over whether the insurer owed legal costs for a lawsuit alleging Away’s co-CEOs had allowed an unauthorized securities sale and failed to properly execute a 2019 tender offer.

The parties have reached a confidential settlement agreement in the case, National Union Fire Insurance Co. told Delaware Superior Court Judge Eric M. Davis in a Monday letter.

Away sued the insurance carrier in January, asking the court to declare the AIG unit had to pay its legal defense and settlement costs for the underlying suit ...