Loews Corporation Comments on Delaware Supreme Court's Ruling

Core Viewpoint - Loews Corporation is involved in ongoing litigation regarding its 2018 acquisition of minority limited partner interests in Boardwalk Pipelines, with the Delaware Supreme Court ruling on the matter and remanding certain issues back to the Delaware Court of Chancery [1][3]. Legal Proceedings - The Delaware Supreme Court found a breach related to the partnership agreement and remanded the issue of tortious interference liability back to the Delaware Court of Chancery [1]. - In November 2021, the Delaware Court of Chancery awarded former minority unitholders approximately $690 million plus interest, but this ruling was reversed by the Delaware Supreme Court in December 2022 [3]. - The Court of Chancery ruled in favor of Loews on remaining claims in September 2024, finding no liability, but this ruling was appealed by the plaintiffs [3]. Company Statements - The President and CEO of Loews Corporation expressed frustration over the prolonged litigation, which has lasted more than seven years, and reiterated the appropriateness of the acquisition process undertaken in 2018 [2]. Company Overview - Loews Corporation operates in diversified sectors including insurance, energy, hospitality, and packaging [4].