Angelo G. Savino concentrates his practice on matters involving directors & officers liability, professional errors and omissions liability, fiduciary liability, employment practices liability, and corporate indemnification.
With more than 30 years as a practicing attorney, he has extensive experience handling all aspects of coverage analysis, claims management, mediation, and settlement of all types of claims, including securities class actions, derivative actions, employment practices, ERISA and other complex litigation.
Angelo has represented major D&O and fiduciary insurers in a number of “mega cases” in both U.S. and international matters. He has extensive experience as insurer coverage counsel handling all aspects of ’33 Act and ’34 Act securities class actions, including analysis of potential damages exposure and negotiation of settlements.
He has also handled matters involving investigations and litigation by the SEC, the Department of Justice, and the Ontario Securities Commission; claims against investment advisers and mutual funds; shareholder derivative claims; claims against pharmaceutical manufacturers; claims involving private equity firms and their portfolio companies; and claims against banks and other financial institutions.
Angelo has litigated coverage cases in state and federal courts for professional liability insurers, involving a wide variety of coverage terms and provisions. He has also handled litigation and settlement of rescission claims based on misrepresentations in financial statements on which the policies were underwritten, as well as with respect to coverage for ERISA “stock drop” cases.
In addition, Angelo has counseled clients regarding policy drafting issues and has extensive experience litigating insurance coverage matters in numerous jurisdictions throughout the United States. Angelo earned his undergraduate degree from Fordham University, and his law degree from Fordham University School of Law, where he was an editor of the Fordham Law Review.
- Successfully represented a D&O insurer in settling $1.6 billion in claims by unsecured creditors against former D&O’s of a bankrupt entity. The insurer paid $3.4 million out of $11 million in policy limits and obtained a full policy release.
- Successfully represented an insurer under an Insurance Company Professional Liability policy issued to a property insurer that was sued for its involvement in inspecting a motel that was subsequently destroyed by a fire. At mediation, we negotiated a settlement in which the client contributed only $60,000 on a $5.4 million loss.
- Negotiated settlement of claims by a bankruptcy trustee against former directors and officers of a bankrupt portfolio company insured by a D&O insurer, saving $1.25 million of the $4 million policy limit and obtaining a six-figure contribution from the private equity investor.
- Negotiated settlement of a coverage dispute against a D&O insurer in which the Insured settled the underlying claim in excess of a $10 million policy limit. The coverage dispute settled for $2.1 million out of a $10 million limit.
- Negotiated settlement of a $3 million negligent misrepresentation claim for $1 million of a $5 million D&O policy. The claim was by an investor who alleged that the Insured’s former CEO, who had been fired, made the alleged misrepresentations.
- Fordham University School of Law, J.D., 1981
- Fordham University, B.A., 1978
BAR ADMISSIONS : New York
COURT ADMISSIONS :
- U.S. Court of Appeals for the Second Circuit
- U.S. District Court — Eastern District of New York
- U.S. District Court — Southern District of New York
- U.S. Supreme Court
- American Bar Association
- Association of the Bar of the City of New York
- New York State Bar Association
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