Sirius Customers Ask 2nd Circ. To Kill $180M 'Coupon' Deal

Law360, New York (January 6, 2012, 6:45 PM EST) -- Sirius XM Radio Inc. subscribers on Thursday asked the Second Circuit to vacate a $180 million settlement in an antitrust suit over the merger that created the satellite radio giant, arguing the deal was valued too high for a "coupon settlement."

In a brief filed with the appeals court, class member Tom Carder objects to the $180 million price tag placed on what was effectively a coupon settlement — one that offers a promised service or action in place of a cash award — and argues...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.