Judge OKs Accord in DaimlerChrysler Suit

DaimlerChrysler won a judge’s approval of a $300-million settlement of lawsuits accusing the world’s No. 5 carmaker of deceiving investors over the 1998 combination with Chrysler Corp., according to court records.

U.S. District Judge Kent Jordan in Wilmington, Del., approved the settlement. The automaker still is embroiled in a legal battle with billionaire financier Kirk Kerkorian, Chrysler’s largest shareholder, who refused to join the class-action accord.

Under the terms of the settlement, former Chrysler investors who filed class-action suits over the combination will get as much as 48 cents a share for stock they swapped in the transaction.

DaimlerChrysler’s U.S. shares rose 53 cents to $46.86 on the New York Stock Exchange.