A shareholder lawsuit has been filed and is seeking class action status against eight directors of the company for allegedly erecting defensive barriers to prevent potential acquirers from attempting to buy the company directly from shareholders. The lawsuit was filed in US District Court in Chicago and asks the court to award the plaintiffs both compensatory and punitive damages. An investor filed the suit claiming eight Tribune Co. directors hurt the company's shareholders by refusing to consider a sale of the Los Angeles Times and by pursuing a stock repurchase program that has left the company saddled with additional debt.
If you feel you should be included in this possible class aciton lawsuit, please contact Leigh Lasky of [Lasky & Rifkind]
