Broadcaster Inc. To Reclaim Shares In Settlement

Law360, New York (November 17, 2009, 2:05 PM EST) -- A Broadcaster Inc. investor has settled a dispute with the Internet entertainment company that began with derivative claims accusing executives of looting company funds and ended with counterclaims for the return of shares from the investor.

The shareholder, Baytree Capital Associates LLC, filed a motion Monday in the U.S. District Court for the Central District of California seeking preliminary approval of the settlement, which resolves all claims and counterclaims in the suit.

Under the terms of the settlement, Baytree and others will return approximately one-third of...
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