Fidelity National Defeats $250 Million Case Over F&G Financing

Fidelity National Financial Inc. prevailed in court Friday against a pension fund that alleged the title insurance giant and billionaire chairman Bill Foley pushed an affiliate into an unfair financing arrangement.

A Delaware judge threw out the case, rejecting claims that Fidelity National exploited its 85% stake in F&G Annuities & Life Inc., a 2022 spinoff, to steer value to itself. Foley—who leads a consortium of financial firms and owns multiple major sports teams, including the NHL’s Las Vegas Golden Knights—personally escaped the case in September.

Although side deals involving corporate controlling stockholders raise unique conflict-of-interest concerns, “they are ...