Court Papers Detail Daimler Settlement

DaimlerChrysler will pay shareholders as much as 48 cents a share under a $300-million settlement of lawsuits alleging Daimler-Benz deceived investors in the 1998 takeover of Chrysler Corp., court papers show.

DaimlerChrysler agreed last month to settle the suits that claimed the Chrysler acquisition was falsely characterized as a merger, without specifying how much shareholders would get.

DaimlerChrysler’s shares fell $1.08 cents to $34.80 on the NYSE.