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182653P.pdf   12/07/2020  Federal Insurance Company  v.  Axos Clearing LLC
   U.S. Court of Appeals Case No:  18-2653
   U.S. District Court for the District of Nebraska - Omaha   
[PUBLISHED] [Loken, Author, with Shepherd and Erickson, Circuit Judges] Civil case - Bonds. The district court properly interpreted New Jersey law when it concluded that Axos's predecessor's payments to settle third-party claims based on an employee's dishonest acts directed at the third parties were not a direct loss under the Insuring Clause of the Financial Institution Bond at issue; nor did the district court err in dismissing Axos's counterclaim under a separate clause as Axos failed to show that admissible evidence would be available at trial to prove the employee personally committed a covered dishonest act.