Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Sirius XM Sued by Shareholders Over Liberty Buyout Offer

Sirius XM Holdings Inc., a satellite-radio operator, was sued by two shareholders who contend directors violated their duties to get the best price in a buyout by parent Liberty Media Corp.

Liberty, which owns more than half of New York-based Sirius, on Jan. 3 offered the equivalent of $3.54 a share in stock for the remainder, even as Sirius trades at more than $3.60, according to a Delaware Chancery Court complaint made public today.

“The lack of a premium is even worse considering the company’s recent financial success and tremendous growth prospects,” investors Philip Ricciardi and Scott Ozaki contend, citing increases in earnings and subscribers.

The investors asked a judge to block the buyout until directors adopt a sales process “to secure the best possible consideration” for Sirius shareholders.

Courtnee Ulrich, a spokeswoman for Englewood, Colorado-based Liberty, didn’t immediately return a phone call seeking comment on the lawsuit.

The case is Ricciardi v. Sirius XM, CA9253, Delaware Chancery Court (Wilmington).

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.