DaimlerChrysler wins in court

DETROIT -- A federal court ruled Thursday in favor of U.S.-German automaker DaimlerChrysler AG in a high-profile securities lawsuit that pitted billionaire investor Kirk Kerkorian against the company.

Kerkorian sued DaimlerChrysler for more than $1 billion, claiming DaimlerBenz engineered a takeover of Chrysler Corp. in 1998, then cheated him out of an acquisition fee.

DaimlerChrysler insisted the merger was one of equals and that Kerkorian grew disgruntled when his stock price fell.

A takeover would have cost DaimlerBenz far more, Kerkorian contended.

U.S. District Judge Joseph Farnan Jr. presided over a bench trial in Wilmington, Del., that concluded in February 2004.