Loews Corporation Responds to Delaware Supreme Court Ruling on Acquisition Dispute

On December 11, 2025, Loews Corporation (NYSE: L) released a statement regarding a significant ruling from the Delaware Supreme Court. This ruling is tied to the company's 2018 purchase of minority limited partner interests in its subsidiary, Boardwalk Pipelines. The court found evidence of a breach related to the partnership agreement, sending the issue of potential tortious interference liabilities back to the Delaware Court of Chancery.

The news comes after years of ongoing litigation that has now spanned over seven years. Ben Tisch, the President and CEO of Loews Corporation, expressed frustration at the prolonged legal battle. In his remarks, he emphasized their belief that the acquisition process in 2018 was well-founded and appropriate.

In November 2021, the Delaware Court of Chancery had initially awarded the former minority unitholders nearly $690 million plus interest in this case. However, this ruling was overturned by the Delaware Supreme Court in a subsequent decision in December 2022. The Supreme Court's latest ruling also resolved other remaining claims in Loews's favor, further complicating the situation for those involved.

In a significant move, the Court of Chancery found no liability regarding the claims in question in September 2024. Nevertheless, the plaintiffs appealed this decision, leading to the most recent ruling by the Delaware Supreme Court. This ongoing back-and-forth has left many questions about the potential financial implications for Loews Corporation should they be found liable in the end. Any damages awarded would start accruing interest from the date of the transaction, adding to the company's financial uncertainty.

In the backdrop of this legal saga, it’s essential to recognize Loews Corporation’s diverse business portfolio, which includes ventures in insurance, energy, hospitality, and packaging. The company remains committed to maintaining transparency with its investors and stakeholders as it navigates this complex legal terrain.

The revelation of these legal proceedings has drawn attention not just from financial markets but also from stakeholders concerned about the potential vibrancy of Loews Corporation amidst these challenges. Ensuring the resolvent of all claims in favor of the company might bolster investor confidence, although the shadow of possible liabilities looms large.

In conclusion, Loews Corporation stands firm in its conviction about the strategic decisions it has made in the past concerning Boardwalk Pipelines. However, the path forward remains laden with uncertainty as legal battles continue. As the company addresses this issue, it will be watching closely the decisions made by the Delaware Court of Chancery regarding its outstanding claims. This case serves as a crucial reminder of how deeply intertwined corporate actions and legal outcomes can be, affecting not just the company’s financial standing, but also its reputation in the market.

For further developments on the matter, updates can be expected as proceedings unfold in the Delaware Court system. Stakeholders and interested parties can follow these developments closely, with keen interest on how Loews Corporation adapts in the face of this legal challenge.