The radio host claimed he was owed additional stock awards of over $300 million for exceeding a certain number of subscribers. Stern surpassed the mark when Sirius merged with XM Satellite Radio, but as Judge Barbra Kapnick of the New York State Supreme court wrote, the language in the contract “is inconsistent with any reading that the parties intended subscribers acquired by merger with XM to be considered.” Judge Kapnick added that the language was “clear” and “unambiguous”; she also dismissed the suit “with prejudice,” meaning Stern, his production company One Twelve, Inc., and manager Don Buchwald will be unable to file another similar suit.
Stern filed the suit against Sirius XM back in March 2011, stating on his radio 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.”
The suit was filed just three months after Stern announced that he had signed a five-year extension with Sirius XM. Last December, Stern announced that he would be joining America’s Got Talent as a judge in 2012.