A court of the Western District of Texas adopted a magistrate's recommendation to grant motions to dismiss filed by insurers and a brokerage firm in an action regarding duties under a professional liability policy to defend and indemnify in an underlying shareholder derivative suit, holding that the plaintiffs had not pleaded or demonstrated how they qualify as insureds under the policy's unambiguous terms and that the plaintiffs had not properly pleaded plausible claims for relief against the brokerage firm.
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