Tribune Lawsuit Seeks To Oust Controversial CEO

Law360, New York (September 17, 2008, 12:00 AM EDT) -- A group of journalists filed an Employee Retirement Income Security Act class action on Monday against the Tribune Co., its chief executive and company board members, alleging conspiracy, breach of duty, self-dealing and a plot to “destroy” the storied news organization.

The lawsuit, filed in U.S. District Court for the Central District of California, alleges CEO Samuel Zell and certain company board members took the company private in December 2007 with the intention of breaking up and selling company assets to “line their own pockets.”...
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