It had been a while since Sirius XM has had any big news on the legal front but a new class action lawsuit has been filed in the state of California. At first blush this suit seems to be not a very big deal, but some of the numbers (unverified) presented could indicate that the… → Read More
It is a good day for Liberty Media’s John Malone. Until now he had remained the only person named as one that was unjustly enriched in the Shenk shareholder lawsuit against Sirius XM. Other board members that had the accusation leveled against them had it removed in pretty short order, but Malone was never… → Read More
While a massive settlement by an investment bank would send ripples through the market, the recent rejection of an SEC vs. Citigroup settlement may be of particular interest to investors in Sirius XM. In a scathing decision, Judge Jed S. Rakoff rejected a proposed $285 million settlement between the SEC and Citigroup, citing that the… → Read More
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I had warned that this would happen and now it has. Several appeals have been filed in the Blessing vs. Sirius XM lawsuit that reached a settlement a bit over a month ago. The appeals were filed by several of the parties that objected to the proposed settlement that was approved by the court. As… → Read More
It was just a month or so ago that a decision was reached on the settlement agreement in the Blessing lawsuit against Sirius XM, and only a few weeks since Sirius XM (a nominal defendant in the case) lost their motion to dismiss the Shenk case. Now, both cases are heating up, and despite a… → Read More
Just a week after the settlement of the Blessing case was approved by one judge, another gives Sirus XM some news that they were hoping not to hear. The Shenk lawsuit against Sirius XM will be able to continue moving forward. In his ruling Judge Rakoff did dismiss some of the claims brought by Shenk,… → Read More
The news broke late this afternoon. The judge in the Blessing Class Action suit against Sirius XM has made his decision and the proposed settlement reached over a month ago is now approved. That is great news for investors in Sirius XM, but the process may not be over. I have on decent authority that… → Read More
For those that thought the Blessing suit was complete, and that a proposed settlement would pave the way for Sirius XM to raise prices beginning January 1, 2012, hold your horses. Judge Harold Baer has reserved judgement on the matter. What exactly does this mean? In simple terms it means that we will get a… → Read More
It was only a matter of time before this happened. Several objections have been filed in the Blessing vs. Sirius XM class action lawsuit. The proposed settlement was almost to good to be true, and now there seems to be some substantial legal precedent to back up the objections. I know some hated the fact… → Read More
When is having money embezzled from you a profitable venture? When you get Treble Damages. That is exactly what happened on June 27th when Sirius XM won a default judgement in their suit against two former employees that embezzled $714,631 dollars from them. The two former employees, identified as Brenda Jones and Valencia Person, worked… → Read More