$200M Settlement Reached In Tribune Media Clawback Suit

Law360 (May 31, 2019, 9:06 PM EDT) -- A litigation trustee urged a Delaware federal court on Friday to approve a $200 million settlement aimed at resolving part of a long-running fight over alleged fraudulent conveyance in the 2008 leveraged buyout of Tribune Media Co.

The deal would put to rest the trustee's claims against a number of former Tribune executives and employees in exchange for a payout that the Friday filing acknowledges would be "significantly" beyond available insurance coverage.

The proposed agreement doesn't spell out exactly how the contributions and payouts from the settlement fund would be split up.

"The settling defendants will be responsible for allocating individual...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!