Vigilant Insurance v. Bear Stearns Companies, Inc.

*301Order, Supreme Court, New York County (Karla Moskowitz, J.), entered January 13, 2006, which granted in part and denied in part plaintiffs’ summary judgment motion, unanimously modified, on the law, summary judgment granted to defendant on the investment banking exclusion and the independent research/ investor education issue, and denied to plaintiffs regarding disgorgement, and otherwise affirmed, without costs.

The motion court properly found triable issues of fact as to whether defendant breached the insurance policies’ provision which prohibited defendant from settling any claims or…