United, Continental Settle Texas Suit Over $3B Merger

Law360, New York (August 4, 2010, 11:57 AM EDT) -- UAL Corp.'s United Air Lines Inc. and Continental Airlines Inc. have reached a truce with Continenal shareholders who claimed in a Texas court that they were jilted when the airlines announced a $3 billion merger in May.

The airlines will provide shareholders with a detailed analysis of how Continental's shares were valued as part of a proposed settlement in the District Court of Harris County, Texas, Continental told the U.S. Securities and Exchange Commission on Tuesday.

The settlement, reached Sunday, is subject to conditions including the...
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