Former Sun-Times Execs Settle Shareholder Suit

Law360, New York (November 14, 2006, 12:00 AM EST) -- Putting the final stamp on a 2003 shareholder derivative lawsuit, the Delaware Chancery Court on Monday gave former Sun-Times Media Group Inc. executives the go-ahead to pay $50 million to settle charges with the company.

The settlement, which was first proposed in May 2005, calls for $50 million to be paid to Sun-Times Media Group. Of that amount, $2.5 million will go to the lawyers of Cardinal Capital Management LLC, the shareholder that brought the suit.

In 2003, an internal investigation revealed that media tycoon and...
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