Shareholders Get $52M Settlement From Liberty Media

Law360, New York (November 20, 2006, 12:00 AM EST) -- Liberty Media Corp. said Monday that it would pay out $52 million to end securities litigation relating to a 1999 merger.

In documents filed with the U.S. Securities and Exchange Commission, Liberty said the case in the Delaware Chancery Court was a result of a merger between AT&T Corp. and Tele-Communications Inc., Liberty’s former parent. The settlement is awaiting court approval.

Liberty revealed that the defendants in the merger litigation were directors of TCI at the time of the merger.

Although Liberty’s filing was unclear on...
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