Sinclair Execs Fight Suits Over Botched Tribune Deal
Law360 (May 1, 2019, 6:32 PM EDT) -- Two directors of Sinclair Broadcast Group Inc. said Tuesday that shareholders suing the company over a botched $3.9 billion merger with Tribune Media Co. haven't shown why they couldn't take their demands to the board first.
Martin R. Leader and Lawrence E. McCanna asked a Maryland federal judge to dismiss a pair of derivative suits filed after Tribune called off the deal last August, arguing that as members of Sinclair's own special litigation committee, or SLC, they are already investigating potential breaches of fiduciary duties connected to the Tribune deal's dissipation.
While the SLC was formed prior to the merger's termination...
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