By Will Feuer
Loews Corp. stated the Delaware Supreme Courtroom reversed a previous courtroom determination that had awarded former unitholders in its Boardwalk Pipelines subsidiary about $690 million, plus curiosity.
The most recent ruling reverses a November 2021 determination by the Delaware Courtroom of Chancery that ordered Loews to pay $690 million to former Boardwalk Pipeline Companions LP buyers who stated their stake was undervalued in a July 2018 buyout.
The Delaware Supreme Courtroom has now remanded the case to the Chancery Courtroom for additional proceedings according to the Delaware Supreme Courtroom’s ruling, Loews stated.
“We’re very happy with the Delaware Supreme Courtroom’s ruling and proceed to imagine that the method we undertook in 2018 to buy the minority items in Boardwalk was applicable,” Loews Chief Govt James Tisch stated.
Write to Will Feuer at Will.Feuer@wsj.com