DaimlerChrysler Settles Liability Claim With Insurers

Law360, New York (January 3, 2007, 12:00 AM EST) -- Disputes over the much-maligned merger that formed DaimlerChrysler are hitting the brakes, as a settlement between the company and a consortium of insurers will help recover the costs of a U.S. class-action lawsuit in 2003.

The group of insurers led by the ACE Group of Companies agreed to pay $222 million to DaimlerChrysler, according to several reports Tuesday. DaimlerChrysler and ACE spokespeople confirmed an agreement had been reached in the final days of 2006, but refused to provide further details about the settlement.

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