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Lincoln National Life Insurance v. Cowboy Athletics

On March 18, 2013, the United States Court of Appeals for the Fifth Circuit ruled in favor of Bancroft’s client, Lincoln National Life Insurance Company in Lincoln National Life Insurance Co. v. Cowboy Athletics, Inc., 532 F. App’x 480 (5th Cir. 2013) (mem.). The case concerns Cowboy Athletics Incorporated and T. Boone Pickens’ purchase of $10-million-dollar life insurance policies on twenty-seven alumni of Oklahoma State University. The Fifth Circuit affirmed the district court’s summary judgment dismissing Cowboy Athletics’ claims of breach of contract and fraud. The Court held that “Cowboy waived its rights with respect to its breach of contract claims,” and that with respect to fraud, “the record reveals no triable misrepresentations.” Paul D. Clement argued the case and was assisted by William R. Levi.

Opinion