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Federal Court Says Insurance Firm Must Pay CombiMatrix $35.7M Award

NEW YORK (GenomeWeb News) - The US District Court for the Central District of California has entered a final judgment in favor of CombiMatrix for $35.7 million, to be paid by the National Union Fire Insurance Company, CombiMatrix said Friday.
 
In February, the court sided with CombiMatrix in its suit against National Union, which claimed that the insurance firm had refused to defend and indemnify CombiMatrix under its director and officer’s insurance policy.
 
On April 23, the court awarded CombiMatrix an additional $3.6 million in attorneys' fees and litigation costs, increasing the overall award to $35.7 million.
 
This award was entered as a final judgment on May 22.
 
CombiMatrix said in a statement that it “will take all reasonable efforts to collect this award, including interest, from National Union.”
 

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