In Re Loral

VERDICT

Trial
03/03/08 – 03/07/08

Play button overlay 45f08f27c7337d189e8c31e635b5d0a0781b273131135cd77ee8b6f12366e7a2
Play button overlay 45f08f27c7337d189e8c31e635b5d0a0781b273131135cd77ee8b6f12366e7a2

Summary

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.

Outcome

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

Sessions

MAR
6

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