Broadcaster Inc. To Reclaim Shares In Settlement

Law360, New York (November 17, 2009, 2:05 PM EST) -- A Broadcaster Inc. investor has settled a dispute with the Internet entertainment company that began with derivative claims accusing executives of looting company funds and ended with counterclaims for the return of shares from the investor.

The shareholder, Baytree Capital Associates LLC, filed a motion Monday in the U.S. District Court for the Central District of California seeking preliminary approval of the settlement, which resolves all claims and counterclaims in the suit.

Under the terms of the settlement, Baytree and others will return approximately one-third of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.