What does Securities Class Action Claims mean? Read on to discover the definition & meaning of the term Securities Class Action Claims - to help you better understand the language used in insurance policies.
Securities Class Action Claims
Claims brought by a publicly held corporation's shareholders alleging that actions by the firm's directors and officers caused a loss in market value of the firm's shares. Coverage for such claims is available under directors and officers (D&O) liability insurance policies. To date, 16 securities class action claims have been settled for amounts in excess of $100 million.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
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