ReliaStar Corp. vs. KMG America, Inc., et al.

Outcome: Court dismissed 10/12 claims and 5/8 defendants

Description: ReliaStar, a subsidiary of ING, sued KMG America, Kanawha Insurance, and six of KMG's officers, including its Chairman/CEO, CFO and other key executives. ReliaStar sought preliminary injunctive relief against defendants; the court denied plaintiff's motion for a preliminary injunction. Plaintiff appealed the decision to the Minnesota Court of Appeals, which affirmed the denial of the preliminary injunction. Thereafter, defendants moved for summary judgment. The court granted summary judgment on 10 of plaintiff's 12 claims, and dismissed 5 of the 8 defendants, including both corporate defendants. The case settled shortly thereafter.