CBS Files Suit Against Howard Stern

[MikeyCarson]

Hoo Hoo, they're ripping me off Robin:

NEW YORK, Feb. 28 /PRNewswire/ -- CBS Radio today announced that it has filed suit against Howard Stern, his company One Twelve, Inc., his agent Don Buchwald, his agent's firm Don Buchwald & Associates, Inc. and Sirius Satellite Radio, Inc.
The lawsuit is for compensatory and punitive damages for multiple breaches of contract, fraud, unjust enrichment, and misappropriation of CBS Radio's broadcast time. It further seeks damages from Sirius Satellite Radio, Inc. for unfair competition and tortious interference with Stern's CBS contract.

More Info Here:
http://biz.yahoo.com/prnews/060228/nytu192.html?.v=25

[Rob]

With the beating they've taken in all the markets he was in, they've got to do something.

r

[djurzi]

This lawsuit is a waste of CBS's time and money. If any thing they are giving him more publicity and he will only benefit from this in the long run.

[MikeyCarson]

I don't know....sounds pretty solid to me...If he did hide part of his Sirius deal (the stock incentive) then he is in breach of contract + and he was pimping the S out of Sirius while duing his broadcast on CBS which allowed him to get the stock early which he then cashed in for a hugh quick payday.

[MikeyCarson]

It was announced today that a undisclosed settlement has been reached in this matter....I'm sure more info will follow iin the coming days