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In Brief / COURTS

Kerkorian wasn't duped, panel rules

September 19, 2007|From Times Staff and Wire Reports

Billionaire investor Kirk Kerkorian wasn't misled about the $36-billion deal that created automaker DaimlerChrysler in 1998, an appeals court ruled.

The U.S. 3rd Circuit Court of Appeals in Philadelphia upheld a lower court's 2005 finding that Daimler-Benz didn't disguise the Chrysler takeover as a "merger of equals."

Kerkorian, once Chrysler's largest shareholder, sought as much as $3 billion in a lawsuit over the deal.

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