Paul T. Curley is a Partner concentrating in insurance coverage
matters, particularly in the areas of D&O, E&O, and fiduciary liability. He
represents primary and excess insurers in complex coverage matters involving shareholder
class actions, derivative actions, internal investigations, SEC and DOJ investigations
and enforcement actions, and ERISA “stock-drop,” excessive fees, and cash-balance
class actions. Prior to joining Kaufman Borgeest & Ryan LLP, Mr. Curley represented
individual and institutional shareholders in class actions and derivative actions
and 401(k) plan participants in ERISA class actions.
Mr. Curley has managed coverage issues involving the Enron shareholder class
action, ”backdated” stock options cases, claims arising out of the sub-prime mortgage
meltdown/credit crisis, and claims involving large, complex bankruptcies, such as
the Delphi shareholder and ERISA class actions.
Publications
Supreme Court to Address Inquiry Notice Standard for Securities Fraud Claims,
Professional Liability Underwriting Society Journal, Volume XXII, Number 9 (2009).
Sen. Specter Seeks To Overturn Central Bank and Stoneridge and Allow Claims for
Aiding and Abetting, Client Advisory (August 24, 2009)
Ninth Circuit Holds Debtor In Possession is an Insured for Purposes of I v. I
Exclusion, Client Advisory (August 21, 2009)
Subprime/Credit Crisis-Related Claims and Potential D&O Coverage Issues, website
for the Insurance Coverage Litigation Committee of the American Bar Association
(Spring 2009)
Advisen Releases Securities Litigation Report, Client Advisory (March 13, 2009)
Cornerstone and Riskmetrics Release Reports on Class Action Settlements, Client
Advisory (March 12, 2009)
Madoff Claims and Potential Coverage Issues, Client Advisory (January 22, 2009)
U.S. Supreme Court Allows Individual Suits for Monetary Damages in Defined Contribution
Plans, Professional Liability Underwriting Society Journal, Volume XXI, Number 6
(2008)
District Court: Grand Jury Subpoena Does Not Constitute a Claim Under D&O
Policy, Client Advisory, Summer 2008 (discussing Diamond Glass coverage litigation
decision holding that a grand jury subpoena does not constitute a demand for non-monetary
relief or a criminal proceeding)
The Subprime Mortgage Crisis, newsletter of the Professionals’, Officers’ and
Directors’ Liability Committee of the Tort, Trial, and Insurance Practice Section
of the American Bar Association (Spring 2008)
Subprime Meltdown Evolves into Credit Crisis, Client Advisory, Spring 2008 (discussing
the spread of the crisis beyond subprime, with a focus on auction rate securities
and credit default swaps)
Court Upholds Company’s Termination of Former Director’s Advancement Rights,
Client Advisory, Spring 2008 (discussing decision by the Delaware Court of Chancery
holding that a director’s advancement rights vest when a claim is filed against
the director)
Seventh Circuit Addresses Multitude of Coverage Issues in Context of ERISA Class
Action, Client Advisory, May 2, 2008 (discussing 7th Circuit decision, which ruled
on a number of important coverage issues, including: settlement and consent; the
benefits due exclusion; undue delay by a carrier and waiver of coverage defenses;
and the appropriate scope of evaluation of a complaint in connection with a determination
of whether it triggers coverage)
Failure to Seek Consent for Settlement Supports Denial of Coverage, Client Advisory,
March 17, 2008 (discussing a decision by the New York Court of Appeals holding that
an insured may not recover settlement payments from its carriers due to its breach
of a policy provision obligating it to obtain the consent of carriers before settling
certain claims)
US Supreme Court Rejects Liability for Secondary Actors, Client Advisory, January
15, 2008 (discussing the Supreme Court’s Stoneridge decision, which largely rejected
scheme liability under Section 10(b) for secondary actors)
Insured’s Contribution to Settlement Fails to Trigger Excess D&O Policy Where
Primary Carrier Pays Less Than Full Limits, Professional Liability Underwriting
Society Journal, Volume XX, Number 10 (2007)
Court Declines to Dismiss Backdating and Springloading Claims, Professional Liability
Underwriting Society Journal, Volume XX, Number 5 (2007)
Enron Court Dismisses “Scheme Liability” Claim Against Bank as Non-Actionable
Aiding and Abetting, Professional Liability Underwriting Society Journal, Volume
XIX, Number 9 (2006)
Backdated Executive Options, Client Advisory, June 30, 2006 (discussing potential
coverage issues with regard to allegations of backdated stock option grants, as
well as the accounting and legal issues concerning such matters)
U.S. Supreme Court Says No To “Holder Actions,” Professional Liability Underwriting
Society Journal, Volume XIX, Number 5 (2006)
