Howard Stern Denied Appeal in $330 Million Lawsuit Against Sirius XM

Shock jock claimed he's owed more stock awards in the wake of the company's merger with XM Radio

By Alexis L. Loinaz Apr 12, 2013 7:20 PMTags
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Howard Stern has been spurned twice over.

The shock jock has lost his appeal in a lawsuit against Sirius XM Radio that argued the 59-year-old is owed $330 million in stock options since the company's 2008 merger with XM Satellite Radio.

Per Reuters, on Thursday a New York state appeals court upheld a 2012 ruling that tossed out the lawsuit, disputing the terms by which Stern claims the radio service's subscribers should be tallied in  order to calculate incentives owed to him.

Stern contends that subscribers to XM Satellite Radio, premerger, should be taken into account when determining his stock awards. In its decision, however, the appeals court ruled that those numbers should not be counted against Sirius' total subscriber base when measuring Stern's compensation.

According to court documents, Stern reportedly pocketed a cool $25 million after the merger.

Expect those coffers to continue swelling: The shock jock has returned for a second season as a judge on America's Got Talent after briefly keeping everyone guessing about his future with the show.

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