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Investors Seek Del. Revival Of iHeartMedia Debt Challenge

Law360, Wilmington (October 11, 2017, 8:02 PM EDT) -- Investors in a subsidiary of debt-burdened iHeartMedia Inc. told Delaware’s Supreme Court Wednesday that the Chancery Court had erred when it dismissed their challenges to using the unit as a cash cow to help out the parent company on the grounds the issue had already been decided.

Andrew J. Entwistle of Entwistle & Cappucci LLP, counsel to GAMCO Asset Management Inc., told a three-judge panel that the lower court was wrong to toss derivative claims that Clear Channel Outdoor Holdings directors breached their duty to the...
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