Howard Stern’s $300 Million Lawsuit Dismissed

By:
04/20/2012 07:47 AM ET

After filing a lawsuit against Sirius XM, a New York Supreme Court judge has dismissed Howard Stern’s case “with prejudice” in which the shock jock radio host turned ‘America’s Got Talent’ judge claimed the satellite radio company owed him $300 million in stock awards. Stern claims that his radio show bought in more subscribers to both Sirius and XM divisions of the company than his performance based contract was signed for.

However, Judge Barbra Kapnick said the language in the contract was “inconsistent with any reading that the parties intended subscribers acquired by merger with XM to be considered.”

Stern filed the suit against his employer in March of 2011, only three months after signing a five year extension with them.

At the time Stern announced on his show, “It causes me great pain to sue the company I work for. Nevertheless, I had to do it. Suffice it to say, there’s a dispute and I believe I haven’t been given what is mine.”

Stern had been seeking four $75 million dollar stock awards he said he should have received after receiving one in 2006 for exceeding subscribers by 2 million subscription. Stern was was paid an additional $25 million when Sirius and XM merged in 2008.

Judge Kapnick decision to dismiss with prejudice means that Stern nor his company One Twelve, Inc. can file a similar suit against Sirius XM. A Twitter feed from Stern’s show read that Howard was “really bummed” with the outcome.

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