Kerkorian Left Empty-Handed In DaimlerChrysler Case

Law360, New York (September 19, 2007, 12:00 AM EDT) -- It's the end of the line for billionaire Kirk Kerkorian's lawsuit against DaimlerChrysler, after an appeals court rejected his argument that Daimler-Benz and Chrysler purposely misled investors to believe that their 1998 merger would be a merger of equals.

In a precedential opinion handed down on Sept. 18, the U.S Court of Appeals for the Third Circuit affirmed a district court ruling that found that, despite the assertions of Kerkorian's investment company Tracinda Corp., “no written misrepresentation occurred in the proxy statement” issued by the companies...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.