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PAN PACIFIC RETAIL PROPERTIES, INC. v. GULF INSURANCE COMPANY

No. 04-56394.

466 F.3d 867 (2006)

PAN PACIFIC RETAIL PROPERTIES, INC., a Maryland corporation; WESTERN PROPERTIES TRUST, a real estate trust, Plaintiffs-Appellants, v. GULF INSURANCE COMPANY, a Connecticut corporation; TWIN CITY FIRE INSURANCE COMPANY, a Minnesota corporation; DOES, 1-50, inclusive. Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Filed October 26, 2006.

Attorney(s) appearing for the Case

Michael Bruce Abelson, Abelson Herron LLP, Los Angeles, California, for plaintiffs-appellants Pan Pacific Retail Properties, Inc. and Western Properties Trust.

David T. DiBiase, Anderson, McPharlin & Connors LLP, Los Angeles, California, for defendant-appellee Gulf Insurance Company. Stephen H. Sutro, Duane Morris LLP, San Francisco, California, for defendant-appellee Twin City Fire Insurance Company.

Before: Alex Kozinski and Ronald M. Gould, Circuit Judges, and Ricardo S. Martinez, District Judge.

Argued and Submitted June 9, 2006 — Pasadena, California.

Opinion by Judge Gould.

OPINION

GOULD, Circuit Judge:

Appellants Pan Pacific Retail Properties, Inc. ("Pan Pacific") and Western Properties Trust ("Western") challenge their insurers' denial of coverage for an underlying shareholder class action. Pan Pacific and Western were each insured under a Directors' and Officers' Liability and Company Indemnification Policy ("D&O...

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