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Monday, May 08, 2006

XM Satellite Radio hit with class action suit 

The law offices of Brodsky & Smith, LLC announced that they filed a securities class action lawsuit on behalf of XM Satellite Radio shareholders who purchased the company's common stock and other securities of between July 28, 2005 and February 15, 2006 (the "Class Period").

The Complaint alleges that defendants violated federal securities laws by issuing a series of material misrepresentations to the market during the Class Period, thereby artificially inflating the price of XM securities. The suit was filed in the United States District Court for the District of Columbia.

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