Thursday, September 21, 2006

Suit accuses 8 Tribune directors of 'suicide pill'

(AP) — A shareholder lawsuit accused eight Tribune Co. directors Tuesday of trying to "maintain their dominion" over the company with a stock repurchase plan it described as a "suicide pill" and other measures designed to ward off a takeover.

The lawsuit filed in U.S. District Court in Chicago and seeking class-action status said the eight directors had "erected draconian defensive barriers that prevent any potential acquirer from, among other things, attempting to buy the company directly from shareholders."

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