In Re: DirecTV Shareholder Litigation

CONCLUDED

Hearing
11/25/09 – 11/25/09

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Play button overlay 45f08f27c7337d189e8c31e635b5d0a0781b273131135cd77ee8b6f12366e7a2

Summary

Settlement hearing.

Via the Andrews Delaware Corporate Litigation Reporter: "The lead plaintiff, the Key West Police & Fire Pension Fund, says the deal will unfairly enrich Liberty Media Chairman John Malone, who also is a director at DirecTV.

Liberty Media announced May 3 that it plans to spin off subsidiary Liberty Entertainment Inc. and merge it with DirecTV in a stock transaction. Malone's company currently holds a 54 percent stake in DirecTV.

According to the terms of the deal, DirecTV stockholders will receive one share of single-vote DirecTV class A common stock for each of their shares. Malone and his associated trusts will receive class B common stock, which carries 15 votes each.

Sessions

PM Session
Not in Session
0 Chapters
NOV
25

Recording Disclaimer: This proceeding was recorded in full.

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