First Solar, Inc. v. National Union First Insurance Company of Pittsburgh, PA

Summary

The Court affirmed the Superior Court's ruling that the Maverick securities action was excluded from coverage under First Solar's later-issued insurance policies because it was a Related Claim to the earlier Smilovits action. The Court held that relatedness must be determined from the policy's language rather than a generic "fundamentally identical" test, but concluded that the two actions involved the same underlying fraudulent scheme and wrongful conduct. The Court also held that the different statements, evidence, causes of action, and damages theories did not create separate covered Wrongful Acts.