Insurance companies for a bank used in a $1.2 billion Ponzischeme are exempted from covering $25 million of the bank'ssettlement with some of the parties, a federal appeals court hasruled.

The decision by the U.S. Court of Appeals for the EleventhCircuit came more than seven years afterhigh-flying Florida lawyer Scott Rothstein pleaded guilty to federal charges stemming from ascheme that defrauded hundreds of investors.

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Greg Land

Greg Land covers topics including verdicts and settlements and insurance-related litigation for the Daily Report in Atlanta.