The chairman of Dish Network Inc. can stay involved in the satellite TV company's bid for telecommunications firm LightSquared Inc. despite having a personal interest in the deal, a Nevada judge has ruled. Clark County District Judge Elizabeth Gonzalez rejected on Wednesday shareholders' attempts to block Charles Ergen's involvement in the deal and put the bidding of LightSquared assets in the hands of other Dish directors."The court finds that there is no risk of irreparable harm as money damages are sufficient to compensate if plaintiff is ultimately successful on their claims," said Gonzalez in her ruling.Dish shareholders had sued the Dish board, arguing that an independent committee should oversee the LightSquared bid because Ergen had privately bought about $1 billion of the bankrupt company's debt.Gonzalez said the shareholders "presented no evidence and no coherent legal theory" of any harm Dish might face if Ergen wasn't kept from participating in its bid to acquire LightSquared assets.
DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH traded higher by 0.43% or $0.23/share to $54.29. In the past year, the shares have traded as low as $33.79 and as high as $54.34. On average, 2468820 shares of DISH exchange hands on a given day and today's volume is recorded at 1773431.
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