A group of over 500 incensed Sirius shareholders have filed suit against the management of Sirius XM who they say have violated their fiduciary duty to shareholders by driving down the company's stock price before attempting to take it private in a leveraged buyout. (http://www.digitalhome.ca/content/view/3047/281/)
2008-11-04, 03:45 AM
yeesh - really makes you wonder about the viability of the whole medium if this goes anywhere - unless it's just a group of shareholders surreptiously funded by the NAB trying to muck things up
I think the suit has merit. I think the courts should force the company to stay public and not allow them to take the company private.
I agree. The whole thing stinks to high-heaven.