All-Tech sues St. Paul to insure loss in 1999 Atlanta shooting
Published Sep 7 2001
All-Tech Investment Group sued a unit of St. Paul Companies,
the No. 4 business insurer, to force coverage of losses caused
when a day trader shot and killed several people in the firm's
Atlanta office.
The lawsuit alleges that St. Paul Mercury Insurance Co. insured
All-Tech, one of the largest day-trading firms, against
property loss, as well as earnings loss and extra expenses
resulting from the suspension of business operations.
On July 29, 1999, disgruntled day trader Mark Barton shot and
killed nine people at two trading firms, including All-Tech's
Atlanta office, before killing himself. All-Tech, based in
Montvale, N.J., alleges that the St. Paul denied claims arising
from the shooting.
"As far as the dispute now, we really can't comment any on
items of litigation," said Patrick Hirigoyen, a spokesman for the
St. Paul-based insurer.
Hirigoyen said the company already has paid a claim for
property damage but disputes the latest claim.
-- Bloomberg News
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