AP – Delphi said Thursday that it reached a settlement in a lawsuit it filed last year against a hedge fund after it pulled out of a deal to lift the auto supplier out of bankruptcy protection.
Delphi Spokesman Lindsey Williams confirmed Thursday that a settlement with Appaloosa Management LP had been reached, but said that the company isn’t releasing any details.
Representatives for Appaloosa did not immediately return a call for comment.
Appaloosa, run by Goldman Sachs alum David Tepper, led a group of investors in 2007 that agreed to inject as much as $2.55 billion into Delphi in exchange for stock, but the group withdrew from the deal in April 2008.
