Deals
Delphi Financial Settles Tokio Marine Case for $49 Million
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Delphi Financial Group Inc., which sells worker’s compensation and group life insurance, said it agreed to settle a shareholder lawsuit over its $2.7 billion buyout by Tokio Marine Holdings Inc. for $49 million.
Investors sued in January in Delaware Chancery Court in Wilmington to block the sale, saying the deal’s structure unfairly enriched company insiders.