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Fisker Automotive Agrees to End XL Insurance America Suit

Fisker Automotive Inc. agreed to end a lawsuit against XL Insurance America Inc. over the loss of more than 300 luxury cars worth about $33 million that were destroyed in Superstorm Sandy, according to a court filing.

Fisker, the Anaheim, California-based plug-in hybrid carmaker seeking a buyer, sued XL Insurance in New York State Supreme Court in December, seeking reimbursement for losses from the destruction of 338 Fisker Karma extended-range sedans.