Sirius XM Defeats 1 Of 2 Derivative Suits Over Merger

Law360, New York (August 31, 2011, 1:42 PM EDT) -- A New York federal judge on Wednesday dismissed one shareholder derivative suit against Sirius XM Radio Inc. and preserved another related to its $180 million settlement of an antitrust class action over the merger that created the company.

U.S. District Judge Jed S. Rakoff rejected claims brought by Sirius XM shareholder Jeffrey Goe, but he allowed most of those alleged by fellow shareholder Robert Michael Shenk to continue. The judge did not explain his reasoning for nixing Goe's suit and allowing Shenk's to continue, saying he...
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