In Re Loral


03/03/08 – 03/07/08


The Shareholder Derivative Litigation arose out of the Company's sale of $300 million of preferred stock to funds affiliated with MHR Fund Management LLC ("MHR") pursuant to the Securities Purchase Agreement dated October 17, 2006, as amended and restated on February 27, 2007 (the "Securities Purchase Agreement"). The plaintiffs, certain stockholders of Loral, alleged, among other things, that the sale was not fair to the Company and resulted from breach of fiduciary duties by Loral's directors.


MHR Financing was unfair and that a final judgment should be entered in favor of Loral and against MHR.



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