Delphi settles shareholder lawsuits

CHICAGO (Reuters) - Bankrupt auto parts maker Delphi Corp DPHIQ.PK said on Friday it has settled class action lawsuits by shareholders and employees that grew out of financial restatements that were the subject of civil fraud charges the company settled last year.

Participants in Delphi retirement plans will receive an allowed interest of $24.5 million and $22.5 million in cash from insurance carriers, Delphi said.

Debt purchasers will receive an allowed claim and stock purchasers will receive an allowed interest for a combined $204 million in the case and about $90 million in cash from other defendants and insurance carriers, it said.

The allowed amounts will receive the same treatment as general unsecured creditors in the case from the settlements. The agreements require approval of the U.S. District Court in Michigan where the class complaints were consolidated and the U.S. Bankruptcy Court in New York.

(Reporting by David Bailey)