Settlement Talks Ongoing in $75.7M Dispute Involving Stock Purchase Agreement

BOSTON — The parties to an action in which Pennsylvania General Insurance Co. (PGIC) is accused of breaching a stock purchase agreement by failing to pay or administer claims have asked a Massachusetts federal judge to suspend the summary judgment briefing schedule for 60 days “to facilitate the parties’ settlement discussions.”

In a March 6 motion, the parties told Chief Judge F. Dennis Saylor of the U.S. District Court for the District of Massachusetts that “based on the progress of those discussions, it would conserve public and private resources and be productive to temporarily pause the remaining summary judgment schedule …