Ubiquiti Networks, Inc. v. National Union Fire Ins. Co. of Pittsburgh, PA

Case No.: 18CV322879    

This is an insurance coverage action. In May 2015, plaintiff Ubiquiti Networks, Inc.’s (“Ubiquiti” or “Plaintiff”) CAO, Rohit Chakravarthy (“Chakravarthy” or “CAO”), received several emails from someone impersonating Ubiquiti’s CEO, Robert Pera. Chakravarthy additionally received emails from someone impersonating attorney Tom Evans, and directed Chakravarthy to make 14 wire transfers over a 17 day period totaling $46,683,232. Chakravarthy departed Ubiquiti soon after the loss, and Ubiquiti sought coverage for the alleged loss, pursuant to the Computer Fraud and Funds Transfer Fraud coverages of the Commercial Crime Policy issued by defendant National Union Fire Insurance Company of Pittsburgh, PA (“NUF” or “Defendant”). NUF denied coverage purportedly because the alleged loss did not fall within either insuring agreement. Ubiquiti then filed a complaint against NUF, asserting causes of action for breach of insurance contract and breach of the implied covenant of good faith and fa........