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Sirius Stockholders Sue Sirius Management
Posted 12 November 2008 - 12:41 PM
Posted 18 November 2008 - 06:33 AM
A small point may be, but why does the group call itself Saving Sirius? The name of the company now is Sirius XM. So do they only want to save the Sirius part of Sirius XM?
Wonder how many of those sueing really examined what the merger promised??? Cutting 22% of the workforce and consolidating back office is not going to make up for the years of overspending by both companies. Bankruptcy is my prediction.
Posted 18 November 2008 - 12:17 PM
Posted 18 November 2008 - 12:48 PM
Actually, they were shut down. It may not have been shut down by court order, but the result was the same. The name Milberg still exists, but it isn't the same company.
I don't think the penalties were enough. I think that EVERYTHING that these crooks owned should have been taken away from them down to the shirts on their backs and then thrown in prison, owning only their orange jump suits. People like this make a mockery of the justice system.
Actually, the law firm was not shut down and it exists today - read the link you posted. The lawyers that were guilty of crimes are no longer with that firm and lost their license to practice (some went to jail), many others left. I don't agree with what those attorneys did in the slightest I do believe the penalties and being disbarred are adequate penalties.
While those attorneys violated the code of ethics they did not change the cause of action (the wrongdoing by the defendants). The cases were valid...how Millberg Weiss got the representation was not.
So we have greedy, crooked corporate executives stealing from their shareholders and greedy lawyers offering to share their winnings (should they win) with plaintiffs.
Posted 19 November 2008 - 04:19 PM
Oh great I didn't even know the company's legal name I guess they thought it would help to keep XM in the marketing name so the people at XM as well as XM subs would think they had some representation in the company. What you are telling me is I just got a lifetime sub for a company whose real name I didn't even know :
I believe the entity's legal name is "Sirius Satellite Radio", while they are marketing themselves as "Sirius XM Radio".