CSX settles civil suit for $10 million

By Lisa Kerner

Charlotte, N.C., Dec. 17 - CSX Corp. settled a civil action brought by a shareholder in New York federal court against the Children's Investment Fund (TCI) and 3G Capital Partners LP, the company announced on Wednesday.

If approved by the court, CSX will receive $10 million from TCI and 3G as recovery for "short-swing" profits made by the defendants as a result of trading CSX securities.

TCI and 3G will be released from claims they violated securities laws, a CSX news release said.

In September, TCI and 3G representatives were added to the board of directors of the Jacksonville, Fla.-based railroad and transportation company.

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