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Halliburton shareholder class action to settle for $100 million
December 23, 2016 / 11:38 PM / a year ago

Halliburton shareholder class action to settle for $100 million

Dec 23 (Reuters) - Halliburton Co on Friday said it had reached a $100 million settlement to resolve a long-running shareholder class action lawsuit against the oilfield services provider that twice reached the U.S. Supreme Court.

The deal resolves a lawsuit in federal court in Dallas accusing Halliburton of misrepresenting its potential liability in asbestos litigation, its expected revenue from certain construction contracts and the benefits of a merger in 1998.

Halliburton said that the company itself would pay $54 million of the $100 million settlement, while its insurer would fund the rest. (Reporting by Nate Raymond in New York; Editing by Chris Reese)

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