Suit accuses Sirius XM CEO of trying to steal the company - Canadian TV, Computing and Home Theatre Forums

hugh · 2008-11-03, 10:02 AM

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.

johndoublej · 2008-11-04, 02:45 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

hugh · 2008-11-04, 07:31 AM

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.

jem · 2008-11-04, 09:07 AM

I agree. The whole thing stinks to high-heaven.

2008-11-03, 10:02 AM	#1
hugh Member #1 Join Date: Dec 2001 Location: Toronto Posts: 47,492	Suit accuses Sirius XM CEO of trying to steal the company 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. __________________ As of January 2012, I am no longer the owner of the Digital Home website. If you have questions about the operation of the site, please contact VSAdmin. For personal inquiries contact me at the Hugh Thompson website.

2008-11-04, 07:31 AM	#3
hugh Member #1 Join Date: Dec 2001 Location: Toronto Posts: 47,492	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. __________________ As of January 2012, I am no longer the owner of the Digital Home website. If you have questions about the operation of the site, please contact VSAdmin. For personal inquiries contact me at the Hugh Thompson website.

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2008-11-04, 02:45 AM	#2
johndoublej Join Date: Sep 2005 Location: Sherwood Park Posts: 52	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

2008-11-04, 09:07 AM	#4
jem Join Date: Nov 2003 Location: Toronto, Canada Posts: 540	I agree. The whole thing stinks to high-heaven.