Delaware's chancellor approved on Tuesday an expedited but limited stockholder class probe into the pace of Sirius XM Holdings Inc. stock repurchases in support of a future minority squeeze-out by controlling investor Liberty Media Corp., with preliminary injunction arguments waiting in the wings.
A Sirius XM Holdings Inc. stockholder sought damages for the company and its shareholders in Delaware's Chancery Court on Thursday in connection with controlling investor Liberty Media Corp.'s alleged ongoing plan for a slow-moving, $16 billion or more squeeze-out of minority shares, at Sirius' expense.