AXA Not Required to Post Security Before Moving to Dismiss, Ill. Federal Judge Rules

CHICAGO — An Illinois federal judge has denied Baxter International Inc.’s (NYSE: BAX) motion for an order requiring AXA Versicherung to post security in a coverage action, ruling that Illinois law does not require unauthorized foreign insurers to post a bond before filing a motion to dismiss.

On Jan. 11, Judge Elaine E. Bucklo of the U.S. District Court for the Northern District of Illinois found that Section 215 ILCS 5/123(5) applies only to “pleadings,” which do not include motions.

Baxter International Inc. was sued in the Northern District of California in connection with a blood-clotting drug manufactured by its …