A Tokio Marine Holdings Inc. unit is dropping its insurance coverage suit against a Washington state landlord over algorithmic price-fixing litigation.
Philadelphia Indemnity Insurance Co. notified the US District Court for the Western District of Washington of its voluntary dismissal with prejudice on Dec. 31.
- The underlying litigation alleged R.D. Merrill Real Estate Holdings LLC conspired with other property managers and software company Yardi Systems Inc. to inflate the price of multifamily rental properties.
- Philadelphia Indemnity sued R.D. Merrill in June, seeking a declaratory ruling that it didn’t owe coverage for the antitrust case under several commercial general liability policies. ...
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