In re Alexion Pharmaceuticals, Inc. Insurance Appeals

Summary

The Court held that the securities class action was meaningfully linked to wrongful acts disclosed in Alexion's earlier notice to its first-tier insurers. Because the later action arose out of the noticed wrongful acts, the policy deemed it first made during the first tower's coverage period, and the second tower's prior-notice exclusion barred coverage. The Court reversed the Superior Court's contrary summary-judgment ruling.