Virgin Faces Derivative Suit Over UK Cable Deal

Law360, New York (March 17, 2011, 4:56 PM EDT) -- Virgin Media Inc. was hit with a derivative and breach of contract suit in New York state court Tuesday alleging its proposed £14.3 million ($23 million) purchase price for a U.K. cable TV operator is unfair.

Robert Lewis, a limited partner of the operator, South Hertfordshire United Kingdom Fund Ltd., claims in a suit filed in the Supreme Court of the State of New York, County of New York, that the purchase price should be higher because the value of European cable TV companies is increasing....
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