NEW
YORK, Sept. 9, 2024 /PRNewswire/ -- Loews
Corporation (NYSE: L) announced today that the Delaware Court of Chancery found no liability
in connection with Loews's 2018 acquisition of the minority limited
partner interests in its Boardwalk Pipelines subsidiary.
"We are very pleased that the Delaware Court of Chancery ruled in our favor
and continue to believe that the process we undertook in 2018 to
purchase the minority units in Boardwalk was appropriate. We are
hopeful that this ruling will resolve the litigation," said
James S. Tisch, President and CEO of
Loews Corporation.
As a reminder, in November 2021
the Delaware Court of Chancery
awarded the class of former minority unitholders in Boardwalk
Pipelines approximately $690 million,
plus interest, in the litigation. That ruling was reversed by the
Delaware Supreme Court in December
2022 and the remaining open claims were remanded back to the
Court of Chancery. Those remaining claims were decided today.
ABOUT LOEWS CORPORATION
Loews Corporation is a diversified company with businesses in
the insurance, energy, hospitality, and packaging industries. For
more information, please visit www.loews.com.
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SOURCE Loews Corporation