Shapiro v. American Home Assurance Co.

Memorandum

KEETON, District Judge.

This case is before me on defendant’s motion for summary judgment. Plaintiffs, former officers and directors of Giant Stores, seek a declaration that they are covered under a directors’ and officers’ (“D & 0”) liability insurance policy issued by defendant. Defendant moves for summary judgment on the ground that the policy is voidable because the application for insurance contained misrepresentations made by plaintiff Shapiro, formerly Giant’s president.

The undisputed facts establish that on July 7, 1972 Shapiro signed an application for insurance that…