An insurance policy exclusion for claims related to public offerings doesn’t let StarStone Specialty Insurance Co. off the hook for litigation against “smart window” maker View Operating Corp. following its 2021 de-SPAC merger transaction, a Delaware court ruled.
The insurer also must reimburse View for one of its officer’s defense costs, Delaware Superior Court Judge Sheldon K. Rennie said in a Monday order.
View faced a Securities and Exchange Commission suit and private shareholder litigation that alleged misconduct by its officers, including accounting violations, when it was absorbed by a special purpose acquisition company in 2021.
US Commerce Secretary Howard ...
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