American Casualty Co. v. Federal Deposit Insurance Corp‪.‬

MARTHA CRAIG DAUGHTREY, Circuit Judge. In this case, we are asked to determine the scope of coverage of an officers and directors ("D & O") liability insurance policy, issued in 1987 by the plaintiff, American Casualty Company of Reading, Pennsylvania. The legal dispute involved here has been litigated in many courts around the country, in the wake of numerous bank and savings and loan failures in the past decade.