UPPER DECK COMPANY, LLC v. AMERICAN INTERNATIONAL SPECIALTY LINES INSURANCE COMPANY

No. 07-56070.

549 F.3d 1210 (2008)

The UPPER DECK COMPANY, LLC and Richard P. McWilliam, Plaintiffs-Appellants, v. AMERICAN INTERNATIONAL SPECIALTY LINES INSURANCE COMPANY, Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Filed December 9, 2008.


Attorney(s) appearing for the Case

Duke F. Wahlquist, Rutan & Tucker, LLP, Costa Mesa, CA, for the plaintiffs-appellants.

Peter A. Stroili, D'Amato & Lynch, LLP, New York, NY, (argued); Jeffry A. Miller, Lewis Brisbois Bisgaard & Smith LLP, San Diego, CA, for the defendant-appellee.

Before: PAMELA ANN RYMER and MILAN D. SMITH, JR., Circuit Judges, and EDWARD R. KORMAN, District Judge.


PER CURIAM:

This appeal arises out of an insurance policy that The Upper Deck Corporation ("Upper Deck"), purchased from American International Specialty Lines Insurance Company ("AISLIC"). The policy insured a tax strategy that KPMG, an accounting firm, developed for Upper Deck. The IRS investigated the tax strategy and determined that it constituted an improper tax shelter. Upper Deck then settled with the IRS for $80 million in back taxes and interest, and with...

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