Friday, June 3, 2011

Another Tribune Lawsuit?

The amount of money that lawyers are making on this Tribune bankruptcy is setting all sorts of records, and will continue to do so.

Here's the latest twist.

Now Tribune retirees (who lost their retirement) are suing the shareholders that made the original deal with Sam Zell because they knew it was a fraud that would send the company into bankruptcy. On the surface it looks like they have a point. Those original shareholders walked away with millions, and all they did to earn that was to destroy the company to such a level that only someone like Sam Zell would take a shot at owning it.

Not sure how they stand legally. I guess we'll find out a few years from now. I wonder if universities will start offering a major in suing the Tribune. It seems like an actual industry.

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