Loews Beats Bandera Fund’s $690 Million Pipeline Buyout Lawsuit

Loews Corp. prevailed in court Monday against a renewed bid for $690 million that affiliates of New York hedge fund Bandera Partners LLC said they were owed after being squeezed out of a pipeline partnership.

The diversified conglomerate owned by members of the billionaire Tisch family fended off Bandera’s effort to reinstate the nine-figure award nearly two years after it was thrown out on appeal.

Bandera’s lawsuit had challenged the 2018 buyout of Boardwalk Pipeline Partners LP, saying Loews exploited a preliminary tax policy proposal to shortchange minority investors on a pretext.

Vice Chancellor J. Travis Laster, ...