Judge throws out Howard Stern’s $330 million Sirius lawsuit
On Monday, New York State Supreme Court Justice Barbara Kapnick stood up to the slightly creepy, shades-sporting radio shock jock Howard Stern.
April 18, 2012 at 07:01 AM
3 minute read
The original version of this story was published on Law.com
On Monday, New York State Supreme Court Justice Barbara Kapnick stood up to the slightly creepy, shades-sporting radio shock jock Howard Stern.
Justice Kapnick dismissed Stern's $330 million lawsuit against satellite radio company Sirius XM Radio Inc., which he accused of withholding stock awards it allegedly owed him for helping it exceed growth projections by at least 2 million subscribers a year since 2006.
The suit claimed former subscribers of XM Satellite Radio Inc., which Sirius acquired in 2008, should be counted in calculating stock awards for Stern's production company, One Twelve Inc., and fees for his agent, Don Buchwald. But Justice Kapnick dismissed Stern's suit with prejudice, finding that Stern and Buchwald were bound by Stern's 2004 agreement with Sirius, and that only the number of Sirius subscribers should be used to determine Stern's stock awards.
“While it may be true that Stern and Buchwald hoped and expected to reap the benefits from any significant growth that Sirius experienced after they entered into the agreement, that subjective expectation cannot suffice to override the clear, unambiguous language of the agreement,” Kapnick wrote in her opinion.
A tweet from “The Howard Stern Show” said Stern plans on appealing.
Read Reuters for more about Stern's suit.
On Monday,
Justice Kapnick dismissed Stern's $330 million lawsuit against satellite radio company
The suit claimed former subscribers of XM Satellite Radio Inc., which Sirius acquired in 2008, should be counted in calculating stock awards for Stern's production company, One Twelve Inc., and fees for his agent, Don Buchwald. But Justice Kapnick dismissed Stern's suit with prejudice, finding that Stern and Buchwald were bound by Stern's 2004 agreement with Sirius, and that only the number of Sirius subscribers should be used to determine Stern's stock awards.
“While it may be true that Stern and Buchwald hoped and expected to reap the benefits from any significant growth that Sirius experienced after they entered into the agreement, that subjective expectation cannot suffice to override the clear, unambiguous language of the agreement,” Kapnick wrote in her opinion.
A tweet from “The Howard Stern Show” said Stern plans on appealing.
Read Reuters for more about Stern's suit.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Coinbase Hit With Antitrust Suit That Seeks to Change How Crypto Exchanges Operate
3 minute read
Baker Botts' Biopharma Client Sues Former In-House Attorney, Others Alleging Extortion Scheme
Trending Stories
- 1'Largest Retail Data Breach in History'? Hot Topic and Affiliated Brands Sued for Alleged Failure to Prevent Data Breach Linked to Snowflake Software
- 2Former President of New York State Bar, and the New York Bar Foundation, Dies As He Entered 70th Year as Attorney
- 3Legal Advocates in Uproar Upon Release of Footage Showing CO's Beat Black Inmate Before His Death
- 4Longtime Baker & Hostetler Partner, Former White House Counsel David Rivkin Dies at 68
- 5Court System Seeks Public Comment on E-Filing for Annual Report
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
