Sam Zell Sues Shareholders Over Tribune Buyout He Engineered
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Billionaire Sam Zell sued former shareholders of the bankrupt publisher Tribune Co., claiming he should be paid along with other creditors should a court rule the 2007 buyout he engineered was a fraud.
The suit, filed by the Zell-controlled company EGI-TRB LLC, defends the buyout as legitimate while also attempting to preserve Zell’s ability to collect money should a court disagree.