ABI Files Amicus Brief in Meade v. Christie, et al., (Iowa Supreme Court)

This week, ABI filed an amicus brief with the Iowa Supreme Court outlining our support for member company Employers Mutual Casualty Company (EMCC) in their defense against a class action shareholder’s case brought against the board of directors of EMCC alleging the board acted improperly when granting a 50% premium to shareholders of EMC Insurance Group (EMCI) when taking that company private. EMC seeks interlocutory review by the Supreme Court on several points of law, including the individual liability of directors in such cases. The case could have wide-ranging applications in other similar mergers and acquisitions in Iowa. For a copy of the amicus brief, please contact JD Davis at jddavis@iowaabi.org.