In re Alexion Pharmaceuticals, Inc. Insurance Appeals, Nos. 154, 2024 & 157, 2024 (Del. 2025)

Ross Aronstam & Moritz represented Endurance Assurance Corporation in a successful appeal from the Delaware Superior Court.  Endurance, along with certain other insurers, appealed the Superior Court’s decision granting summary judgment in favor of Alexion Pharmaceuticals, Inc. regarding the proper placement of a securities class action among different insurance towers.  In its Opinion, the Delaware Supreme Court agreed with Endurance and its co-appellants that the securities class action should have been placed in the first of the two towers because that case was “meaningfully linked to” the wrongful acts that Alexion disclosed to the first tower insurers in a notice of circumstances.  Accordingly, the Supreme Court ruled that pursuant to a prior notice exclusion in the second tower policies, no coverage was available to Alexion under that second tower that included Endurance.