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PIPER JAFFRAY COS. v. NATIONAL UNION FIRE INS. CO.

No. Civ. 4-96-1143(MJD/RLE).

38 F.Supp.2d 771 (1999)

PIPER JAFFRAY COMPANIES INC., Piper Jaffray Inc., Piper Capital Management Incorporated and Piper Funds Inc., Plaintiffs, v. NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, Pennsylvania, Reliance National Indemnity Company and Executive Specialty Insurance Company, Defendants.

United States District Court, D. Minnesota.

February 26, 1999.

Attorney(s) appearing for the Case

George F. McGunnigle, Robert Paul Thavis, and Steven P. Zabel, Minneapolis, MN, for Piper Jaffray Companies, Inc., Piper Jaffray, Inc., Piper Capital Management Incorporated and Piper Funds, Inc.

Jeff I. Ross, Eugene Sheih, Zelle & Larson, Minneapolis, MN, for National Union Fire Insurance Company of Pittsburgh Pennsylvania.

David W. Evans, Haight, Brown & Bonesteel, L.L.P., San Francisco, CA, Richard Patrick Mahoney, Victor E. Lund, Mahoney, Dougherty and Mahoney, Minneapolis, MN, for Executive Specialty Insurance Company.

Bradley Mitchell Jones, Meagher & Geer, Minneapolis, MN, Wallace A. Christensen, Daniel J. Standish, Eric M. Jaffe, Ross, Dixon & Bell, Washington, DC, for Reliance Insurance Company.

MEMORANDUM AND ORDER

DAVIS, District Judge.

BACKGROUND

Plaintiffs Piper Jaffray Companies Inc. ("PJCI" or "PJC"), Piper Jaffray Inc., Piper Capital Management Incorporated ("PCM") and Piper Funds Inc. ("Piper") purchased Directors and Officers ("D & O") insurance policies from Defendants National Union Fire Insurance Company of Pittsburgh, Pennsylvania ("National Union"), Reliance National Indemnity Co. ("Reliance"), and Executive Risk Specialty...

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