Grant & Eisenhofer served as co-lead counsel and secured a $180 million settlement value for Sirius XM subscribers alleging unlawful price increases following the merger of Sirius and XM Satellite Radio
Plaintiff(s):
Subscribers of Sirius XM Radio Inc.
Case type / claims:
Antitrust class action alleging deceptive and anticompetitive pricing practices in violation of the Sherman Act and breach of subscriber contracts after the merger of Sirius Satellite Radio and XM Satellite Radio. The class, which was made up of some 15 million subscribers, claimed that the company broke antitrust laws by raising prices shortly after the 2008 merger, and that Sirius XM Satellite Radio improperly increased monthly charges for satellite radio by nearly 30%.
Jurisdiction:
U.S. District Court for the Southern District of New York
Year:
2011
Outcome:
- Settlement valued at $180 million, benefiting more than 15 million subscribers.
- Sirius XM agreed not to raise prices for the remainder of 2011.
