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DaimlerChrysler and insurers resolve dispute

Sarah Veysey

January 03, 2007 Reprints

P/C Insurers More + Less -

FRANKFURT, GermanyGerman automobile manufacturer DaimlerChrysler A.G. and its insurers have agreed to settle a dispute about recovering the costs of a class action lawsuit in the United States.

In August 2003, DaimlerChrysler agreed to settle with some U.S. shareholders who alleged that the 1998 tie-up of Daimler-Benz and Chrysler was a takeover of Chrysler, and not a merger of equals as it had been billed.

A group of insurers, led by ACE Ltd., agreed recently to cover some of the costs of the settlement deal struck between the automaker and its shareholders.

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DaimlerChrysler and insurers resolve dispute

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