Stem, Inc. v. Scottsdale Insurance Company

IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA 7 STEM, INC., Case No. 20-cv-02950-CRB

Plaintiff,

ORDER GRANTING MOTION FOR

v. PARTIAL SUMMARY JUDGMENT

SCOTTSDALE INSURANCE COMPANY, Defendant.

Stem, Inc. has sued its liability insurer, Scottsdale Insurance Company, alleging that Scottsdale breached the terms of their insurance contract when Scottsdale failed to cover Stem’s losses associated with a 2017 lawsuit against Stem. See First MSJ Order (Dkt. 51) at 1. In that underlying lawsuit, certain Stem shareholders asserted claims arising from two transactions relevant here: a 2013 Series B financing round and a 2017 loan from Stem board member David Buzby to Stem. Id. After both Stem and Scottsdale moved for summary judgment, this Court held that under the insurance policy, the 2017 Buzby Loan Claim triggered Scottsdale’s coverage obligations under the policy, but the 2013 Series B Financing Round Claim did not. Id. at 1–2. The pertinent facts…