We acted as lead coverage and litigation counsel for a fidelity insurer in a class action and multiple state court lawsuit against the insurer that were based on a Ponzi Scheme perpetrated by the policyholder. The policyholder had stolen more than $100,000,000 from real estate investors who had been attempting to conduct 1031 exchanges of investment property. Through our proactive and measured approach, we were able to negotiate a favorable settlement of all claims against the fidelity insurer for pennies on the dollar.
