DaimlerChrysler AG must pay about $295 million to former shareholders of Daimler-Benz AG to settle a case related to its 1998 merger with Chrysler Corp., a German court said Monday.

The automaker must pay a group of investors $28.42 per share, or a total of euro230 million, to resolve the dispute over the valuation of their stock, said Till Jakob, a spokesman for the state court in Stuttgart.