Sirius Fights Derivative Suits Over $180M Antitrust Deal

Law360, New York (July 8, 2011, 12:34 PM EDT) -- Sirius XM Radio Inc. asked a New York federal court on Thursday to dismiss a pair of shareholder derivative suits related to the company's $180 million settlement of an antitrust class action over the June 2008 merger that created the company.

The defendants — current and former members of Sirius XM's board of directors and CEO Mel Karmazin — said the plaintiffs in the derivatives suits failed to make adequate demands on the board to bring a suit of its own, a requirement for filing derivative...
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