Judge OKs Settlement In Temple-Inland Shareholder Suit

Law360, Wilmington (December 17, 2012, 9:11 PM EST) -- A Delaware judge on Monday approved a settlement between Temple-Inland Inc. investors and directors, putting to rest claims stemming from International Paper Co.'s initially contentious takeover offer, which after sweetening eventually paid shareholders as much as $3.7 billion.

Vice Chancellor Donald F. Parsons Jr. signed off on the pact, which provides for full releases for the Temple-Inland's board and associated parties in exchange for two rounds of additional disclosures provided before the December 2011 shareholder vote on the deal.

The vice chancellor also endorsed an award...
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