Law360, New York (August 21, 2006, 12:00 AM EDT) -- Rejecting an earlier court proposal has cost DaimlerChrysler AG millions more after a German court on Monday ordered the auto maker to shell out $295 million to former shareholders of Daimler-Benz AG to resolve a dispute stemming from DaimlerChrysler’s 1998 merger with U.S.-based Chrysler Corp.
DaimlerChrysler must reimburse a group of investors $28.42 per share after the group’s stock was undervalued at the time of the merger, a Stuttgart court ruled.
The company had the option of accepting a June court proposal to reimburse the 16...
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