Deals
Sirius XM Wins Preliminary Approval of Class-Action Accord
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Sirius XM Radio Inc. won a judge’s preliminary approval to settle a class-action lawsuit by a group of subscribers who claimed the satellite-radio company violated antitrust law by boosting prices after acquiring its only rival.
A hearing will be held Aug. 8 to determine whether the settlement, valued at $180 million, is “fair, reasonable and adequate to the class,” U.S. District Judge Harold Baer said, according to a filing yesterday in Manhattan. No cash payments will be made under the deal, court papers show.