Sinclair Execs Must Face Suits Over Botched Tribune Deal
Law360 (December 9, 2019, 6:53 PM EST) -- A Maryland federal judge on Monday rejected dismissal bids from two Sinclair Broadcast Group Inc. directors facing derivative shareholder litigation over the company’s botched $3.9 billion merger with Tribune Media Co., ruling it’s unclear whether a special litigation committee was already looking into the shareholders’ qualms.
In May, directors Martin R. Leader and Lawrence E. McCanna said the suits should be nixed because they’re members of the company’s special litigation committee and were investigating potential breaches of fiduciary duties connected to the deal’s dissipation before the shareholders filed suit.
But U.S. District Judge Catherine C. Blake on Monday said the timing...
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