DaimlerChrysler settles U.S. lawsuit for $300 mln

Newswire

FRANKFURT, Aug 22 (Reuters) - Autos group DaimlerChrysler AG said on Friday it had settled a U.S. class action lawsuit relating to the 1998 merger of Daimler-Benz and Chrysler for $300 million. DaimlerChrysler said in a statement that the plaintiffs had been seeking damages of $22 billion. The settlement was subject to a definitive agreement and to court approval, the company said, adding that it would seek $220 million from its insurers. It said the settlement did not affect a separate ...

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