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Shareholders May Get €200M In DaimlerChrysler Case

Law360 (June 19, 2006, 12:00 AM EDT) -- Sixteen former shareholders of Daimler-Benz AG, who together owned almost 2% of the company’s stock, may receive about €200 million to settle an ongoing lawsuit with auto maker DaimlerChrysler AG, according to a settlement proposal issued by a regional court judge in Stuttgart, Germany.

The judge, taking advice from a court-commissioned expert, agreed with the former shareholders, who said their stock was inaccurately valued by €19 a share after Daimler-Benz merged with Chrysler Corp. in 1998.

A spokesman for DaimlerChrysler in Germany, Thomas Froehlich, said his...
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