Columbia Pipeline Ex-Executives Settle $13 Billion Merger Case

Two former top executives at Columbia Pipeline Group Inc. exited investor litigation over its $13 billion sale to TransCanada Corp., when a Delaware judge approved a $79 million class action settlement that doesn’t release any claims against the Canadian energy company.

Vice Chancellor J. Travis Laster signed off Wednesday on the agreement, which resolves allegations that ex-CEO Robert Skaggs Jr. and former chief financial officer Steven Smith “tilted the playing field towards TransCanada” during deal talks in a bid to “maximize the value of their retirement benefits.”

The case will continue against Calgary-based TC Energy Corp.—the former TransCanada—which is ...