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Another Law Firm Files XM Shareholder Suit
May 16, 2006 at 6:39 AM (PT)
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Yet another law firm is filing a lawsuit against XM SATELLITE RADIO HOLDINGS and Pres./CEO HUGH PANERO alleging the company misrepresented expenses last year.
WECHSLER HARWOOD LLP joins a growing list of firms filing suits intended as class actions, claiming that XM knew that expenses to meet its end-of-2005 subscriber goals would be greater than disclosed and that PANERO sold 99% of his XM stock on DECEMBER 6 with knowledge of the increased expenditures.

