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MGIC INDEM. CORP. v. CENTRAL BANK OF MONROE, LA.

No. 87-4007.

838 F.2d 1382 (1988)

MGIC INDEMNITY CORP., and Continental Casualty Co., Plaintiffs-Appellees, v. CENTRAL BANK OF MONROE, LA., Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

March 7, 1988.

Attorney(s) appearing for the Case

Thomas J. Walsh, Jr., Glen G. Reid, Jr., Wildman, Harrold, Allen, Dixon & McDonnell, Memphis, Tenn., for defendant-appellant.

William G. Kelly, Jr., Davenport, Files & Kelly, Monroe, La., Christy D. Jones, Lawrence J. Franck, Butler, Show, O'Mara, Stevens & Cannada, Jackson, Miss., for plaintiffs-appellees.

Before CLARK, Chief Judge, JOLLY and JONES, Circuit Judges.

E. GRADY JOLLY, Circuit Judge:

Central Bank of Monroe ("Central") appeals a jury verdict in favor of MGIC Indemnity Corp. ("MGIC"), the issuer of its directors and officers liability insurance policy ("D & O policy") and against Central's claim under that policy. After careful examination of the record, we conclude that the arguments at trial and on appeal are based on erroneous theories, but that the district court should have granted a directed verdict for MGIC...

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