The fact that a single drug’s development is at the center of multiple lawsuits against Gilead Sciences subsidiary Immunomedics Inc. doesn’t mean a D&O insurance provider can’t provide coverage in each case, Superior Court Judge Paul R. Wallace decided on Monday.
Wallace granted the California-based biotech company’s motion for partial summary judgment and denied a cross-motion from Hudson Insurance Co., finding a breach of fiduciary duty suit and a later-filed securities class action were distinctive enough to not be considered related claims.
