2nd Circ. Approves $180M Sirius XM Antitrust Settlement

Law360, New York (December 20, 2012, 4:50 PM EST) -- The Second Circuit on Thursday approved a $180 million class settlement in an antitrust suit over the merger that created satellite radio giant Sirius XM Radio Inc., shooting down objections from class members who felt the settlement was unfair.

The appeals court ruled that the nonmonetary settlement — Sirius XM agreed not to raise its subscription price for five months — was sufficiently fair, affirming a lower judge's decision to accept it.

After the agreement was approved in August 2011, 28 class members challenged its validity...
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