Strine Tosses Suit Over Liberty Media's Sirius XM Takeover

Law360, Wilmington (September 27, 2013, 8:17 PM EDT) -- A Delaware Chancery judge on Friday threw out a shareholder class action that challenged Liberty Media Corp.'s takeover of Sirius XM Radio Inc., ruling the investors' complaint, stemming from a 4-year-old agreement, was time-barred and that the stockholders hadn't convinced him otherwise.

Chancellor Leo E. Strine Jr. ruled that the lawsuit, initially filed in August 2012, came months after the three-year statute of limitations for a breach of fiduciary duties claim had passed, and that the investors never came up with a reason why they didn't...
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