AFC awarded $20M in insurance suit

ATLANTA Popeyes Chicken & Biscuits parent AFC Enterprises Inc. has been awarded $20 million in a lawsuit filed by the company against its former insurance carrier, Executive Risk Indemnity Inc.

The insurer had attempted to rescind a 2003 liability policy for AFC’s directors and officers. During early 2003, AFC had to restate its financial results for prior years, including 2001, when the company went public. After AFC’s stock price tanked, a class-action lawsuit

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