Current Issue:



CURRENT ISSUE
On The Cover:
Bob Pittman & Richard Bressler





Click here to subscribe to Radio Ink.






Radio Ink Writers


















Lehman Sues SBS Over Dividends

2-17-2013

Bloomberg reports Spanish Broadcasting System is being sued by Lehman Brothers Holdings, which claims the company owes $29.36 million in preferred stock dividends. Lehman asked a Delaware court to rule SBS violated a contract by not making the payments, and is therefore prohibited from incurring additional debt.

According to Bloomberg, Lehman lawyers contend that despite the fact of the contract, and non-payment to Series B preferred stockholders since mid-2009, “the company proceeded in 2011 and 2012 with the incurrence of hundreds of millions of new debt -- including a $275 million refinancing.”


Images From Forecast 2015
November 19, 2014 in New York. Click anywhere on an image to advance to the next.

Get the flash player here: http://www.adobe.com/flashplayer



 
Advertisements

Advertisements