NEW YORK, Nov. 12, 2021 /PRNewswire/ -- Loews
Corporation (NYSE: L) announced today that the Delaware Court of Chancery issued a ruling in
the class action litigation relating to its 2018 acquisition of the
minority limited partner interests in its Boardwalk Pipelines
subsidiary.
The Court held that Loews breached the Boardwalk partnership
agreement and awarded the class of former Boardwalk unitholders
approximately $690 million, plus
interest.
"We are disappointed in the Court's ruling today, and believe
that the Court misinterpreted both the factual underpinnings of the
case as well as the applicable law," said James S. Tisch, President and CEO of Loews
Corporation. "We intend to appeal the ruling."
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