Liberty Media Pays $10M To Settle Shareholder Suit

Law360, Wilmington (August 7, 2012, 10:00 PM EDT) -- A Delaware judge on Monday approved a $10 million settlement between Liberty Media Corp. and a certified investor class that claimed Liberty's directors allowed their shares to be devalued while Chairman John C. Malone's were exchanged at a premium, earning him an additional $165 million.

Blackthorn Partners LP, which served as lead plaintiff in the class action, filed suit in Delaware Chancery Court in February 2010. The hedge fund accused Liberty's board of breaching its fiduciary duty by treating public shareholders differently from affiliated shareholders in...
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