AIG, Chubb Must Cover Harman Settlement in Samsung Row (Correct)

Harman International Industries Inc.’s insurers—units of American International Group Inc. and Chubb Ltd.—are on the hook for the car technology company’s $28 million shareholder settlement over its acquisition by Samsung Electronics Co., a Delaware state court ruled.

The proposed class action underlying the insurance dispute alleged that Harman filed a misleading proxy statement ahead of the Samsung deal, and the directors and officers policies Harman purchased provided a combined $40 million in coverage that should apply to the 2022 agreement settling those claims, Judge Paul R. Wallace of the Delaware Superior Court said in a Friday order.

The ...