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
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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
It is oft said that the wheel of justice turn slowly, but lately the opposite seems to hold true for Sirius XM Satellite Radio (NASDAQ:SIRI). The company, now profitable, is involved in a number of suits, one of the latest being the Joel Broida vs. Sirius XM Radio. Broida v. Sirius XM This is a… → Read More
It was only a few weeks ago that a new lawsuit against Sirius XM brought on behalf of shareholders came to light. The lawsuit centers on many issues similar in nature to the Blessing matter which Sirius XM reached a proposed settlement on. The big difference here is that the Blessing matter was brought on… → Read More
These days it seems like Sirius XM finds themselves involved so many legal matters that they would have enough content to fill a special pop-up channel on their dial. While the Howard Stern case and developments seem to be at center stage, along with the Blessing settlement, there are two other active cases of note…. → Read More
While Howard Stern and Sirius XM (NASDAQ:SIRI) certainly do not agree on whether or not Stern and his agent, Don Buchwald, are entitled to additional bonuses, they have come to an agreement on the desire to keep certain documents in the case private. I guess you could say that Howard wants Private Parts (perhaps not… → Read More
As we reported here last week the Blessing vs. Sirius XM class action suit had the Proposed Settlement receive preliminary approval. It is this suit which has had Sirius XM to agree to freeze prices until at least January of 2012. As part of the proposed settlement a website, satelliteradiosuit.com, has been launched. The site… → Read More
This morning I attended the Sirius XM annual shareholder meeting. During the meeting Mel Karmazin announced that Sirius XM would be filing a Motion for Summary Judgement on the Howard Stern lawsuit. The court records, submitted later that day, show that there were many filings including the motion and supporting documentation. One legal matter is… → Read More