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Sirius XM Radio Faces Shareholder Suit

In answer to Cos1000, anything not in the company's interest is also not in the shareholders' interest, plain and simple.

What a waste of time, money, company resources, the courts, etc. These people are the worst sort of vultures.

This suit goes nowhere, period. It eats up company resources exactly when they are needed most urgently. It is aimed only at getting a settlement for the TTT-grad, strike suit lawyers who prey on disappointed shareholders because they couldn't get real jobs.

Managers have a duty of loyalty and a duty of care. No court is going to find a breach of the duty of loyalty, period. It just doesn't happen absent extraoardinary facts, like selling off assets to family members at deep discounts or other such blatant self-dealing. No court is going to find a breach of duty of care, either. That is an extremely low bar, basically if they show up for work and appear to have a slight interest in the day-to-day running of the company, they meet that duty.

This is complete idiocy.