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FIRST INVESTORS CORP. v. LIBERTY MUT. INS. CO.

Docket Nos. 97-9407, 97-9435.

152 F.3d 162 (1998)

FIRST INVESTORS CORPORATION, First Investors Management Company, Inc., First Investors Consolidated Corporation, First Investors High Yield Fund, Inc., and First Investors Fund for Income, Inc., Plaintiffs-Appellants-Cross-Appellees, v. LIBERTY MUTUAL INSURANCE COMPANY, Defendant-Appellee-Cross-Appellant.

United States Court of Appeals, Second Circuit.

Decided August 6, 1998.

Attorney(s) appearing for the Case

Philip R. Forlenza, Patterson, Belknap, Webb & Tyler LLP, New York City (Stephen P. Younger, Roosevelt N. Nesmith, on the brief), for Appellants.

Marshall T. Potashner, Wilson, Elser, Moskowitz, Edelman & Dicker, New York City (Herbert Dicker, on the brief), for Appellee.

Before: CABRANES, POOLER, and REAVLEY, Circuit Judges.

JOSÉ A. CABRANES, Circuit Judge:

First Investors Corporation and its affiliates (collectively, "First Investors") brought this action seeking insurance coverage under policies it purchased from Liberty Mutual Insurance Company ("Liberty Mutual"). The coverage sought included Liberty Mutual's duty to defend First Investors against multiple claims of emotional distress arising out of investors' economic losses. Liberty Mutual denied coverage, asserting that the...

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