DOW JONES NEWSWIRES
A New York State Supreme Court judge has dismissed radio personality Howard Stern's case against Sirius XM Radio Inc. (SIRI) over alleged breaches of contract regarding stock awards, according to a filing with the Securities and Exchange Commission.
Last year, Stern's production company One Twelve Inc. filed a lawsuit against Sirius, claiming the satellite radio company has refused to pay stock awards it owes Stern based on subscriber targets in his contract. The lawsuit also said Sirius owes money to Stern's agent, Don Buchwald, under a consulting agreement.
The court found that Sirius had complied with all its obligations under the agreement, according to the filing.
Sirius shares were up 3.2% to $2.24 in recent trading, outpacing the broader market. The stock is up 23% so far this year.
A New York State Supreme Court judge has dismissed radio personality Howard Stern's case against Sirius XM Radio Inc. (SIRI) over alleged breaches of contract regarding stock awards, according to a filing with the Securities and Exchange Commission.
Last year, Stern's production company One Twelve Inc. filed a lawsuit against Sirius, claiming the satellite radio company has refused to pay stock awards it owes Stern based on subscriber targets in his contract. The lawsuit also said Sirius owes money to Stern's agent, Don Buchwald, under a consulting agreement.
The court found that Sirius had complied with all its obligations under the agreement, according to the filing.
Sirius shares were up 3.2% to $2.24 in recent trading, outpacing the broader market. The stock is up 23% so far this year.
