LOS ANGELES (CNS) - A judge has narrowed his previous order that former mayoral candidate Rick Caruso sit for a deposition as part of an insurance company's defense of a lawsuit brought by companies owned by the billionaire businessman involving coverage provided in a separate case that resulted in a multimillion-dollar settlement concerning condominium unit damage.
In the wake of an amended complaint soon to be filed by the Caruso companies that changes the focus of the damages sought, Los Angeles Superior Court Judge Jon R. Takasugi ruled that on Tuesday that Caruso now need only answer questions from attorneys for Arthur J. Gallagher & Co. Insurance Brokers of California about the insurance policies at issue and that the session is to last no more than a half-day. The judge declined a plaintiffs' motion to bar the Caruso deposition altogether and directed that it take place within 45 days.
The plaintiffs, including Caruso Affiliated Holdings LLC, filed the negligence action against Gallagher & Co., their former insurance broker, in April 2021. Gallagher funded the defense and a $22.25 million settlement of a separate case involving luxury condominiums Caruso built at his Americana at Brand shopping center in Glendale.
The Caruso companies allege there are significant gaps in coverage for the Excelsior at Americana at Brand condominium development, resulting in considerable expenses to Caruso when residents of the project sued over leaking showers and mold.