David Malkin v. Continental Casualty Company, et al, Docket No: 06-01103 (New Jersey District Court) (September 20, 2010)
The firm won summary judgment in an insurance bad faith (extra-contractual) action, with the Court holding that our client did not breach the covenant of good faith and fair dealing and was not obligated to reimburse a financial broker for punitive damages assessed against him as a result of the sale of an unsuitable investment. The New Jersey District Court held that our client, plaintiff’s insurer, did not breach the covenant of good faith by assigning joint counsel to three insureds because the interests of all three were aligned during the period of joint representation. The Court further held that our client properly pursued settlement within the policy limits, was not required to settle for additional sums so as to avoid the imposition of punitive damages against the insured which was not an insured risk, and that there was no evidence that our client did not act in a fair manner regarding the plaintiff’s claim.
Partner Andrew Mandelbaum represented the client in this action.
