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NEW YORK, Sept. 9, 2024 /PRNewswire/ — Loews Company (NYSE: L) introduced lately that the Delaware Court docket of Chancery discovered incorrect legal responsibility in reference to Loews’s 2018 acquisition of the minority restricted spouse pursuits in its Boardwalk Pipelines subsidiary.
“We are very pleased that the Delaware Court of Chancery ruled in our favor and continue to believe that the process we undertook in 2018 to purchase the minority units in Boardwalk was appropriate. We are hopeful that this ruling will resolve the litigation,” mentioned James S. Tisch, President and CEO of Loews Company.
As a reminder, in November 2021 the Delaware Court docket of Chancery awarded the category of former minority unitholders in Boardwalk Pipelines roughly $690 million, plus pastime, within the litigation. That ruling used to be reversed via the Delaware Ideally suited Court docket in December 2022 and the too much clear claims have been remanded again to the Court docket of Chancery. The ones too much claims have been made up our minds lately.
ABOUT LOEWS CORPORATION
Loews Company is a various corporate with companies within the insurance coverage, power, hospitality, and packaging industries. For more info, please consult with www.loews.com.
SOURCE Loews Company
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