Sirius Shareholder Group Fights Stock Dilution

Law360, New York (November 18, 2008, 12:00 AM EST) -- A group of shareholders of Sirius XM Radio Inc., created earlier this year by the merger of two satellite radio giants, has formally demanded that the company's board of directors suspend a planned stock dilution and hold off on awarding bonuses.

The shareholders are part of a group called SaveSirius.org, led by investor Michael Hartleib. It has about 700 members, according to its Web site.

The investors are demanding that Sirius XM postpone a vote on a stock dilution it is considering in order to raise...
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