Howard Stern $300m lawsuit dismissed
Howard Stern's lawsuit again his employer SiriusXM satellite radio has been thrown out of court today.
The shock jock had sought legal restitution after he claimed he was owed over $300 million in stocks by the company that he hosts a daily show for.
He wanted the stock for himself and his agent, Don Buchwald, and claimed that his original contract when he joined the station in 2006 would give him additional stock as Sirius became more successful and added subscribers.
Howard argued that the number of subscribers should include the additional number when Sirius merged with XM in 2008.
But New York State Supreme Court Justice Barbara Kapnick did not agree and ruled in favour of SiriusXM.
"While it may be true that Stern and Buchwald hoped and expected to reap the benefits from any significant growth that Sirius experienced after they entered into the agreement," she said. "That subjective expectation cannot suffice to override the clear, unambiguous language of the agreement."
Howard's original deal with Sirius saw him receive $500 million over five years but that would include production costs.
The 58-year-old radio personality says he will appeal the decision. He is set to be the new judge on America's Got Talent.
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