Cumulus Will Pay $4 Million To Settle Suit Brought By Former Buffalo Bills Cheerleaders.

[davideduardo]

From Inside Radio

"An eight-year-old legal battle between Cumulus Media and a group of former cheerleaders for the Buffalo Bills has been settled in bankruptcy court. The $4 million settlement, under which Cumulus admits no wrongdoing, dates back to when Cumulus predecessor Citadel Broadcasting’s “97 Rock” WGRF was the Bills radio flagship and managed the Buffalo Jills under an agreement with the NFL team’s owner."

Cumulus Will Pay $4 Million To Settle Suit Brought By Former Buffalo Bills Cheerleaders.

An eight-year-old legal battle between Cumulus Media and a group of former cheerleaders for the Buffalo Bills has been settled in bankruptcy court. The $4 million settlement, under which Cumulus

www.insideradio.com

 

[Deleted User]

4 million.... in Cumulus Stock....

3.5 from the Bills.

Ladies, dump that stock ASAP

 

[Rusty Bridges]

4 million.... in Cumulus Stock.... 3.5 from the Bills. Ladies, dump that stock ASAP

Mildly amusing, Cumulus denies any wrongdoing (typical), but to settle, gives the plaintiffs a share of the company. As to Cumulus ("CMLS") stock, it's actually doing OK, closing 'up' Thursday at $11.53 per share, recovering from a 52 week low of $8.91, yet down from a high of $14.84. The one year estimated (projected) share price is $23.33 ... "so you have to ask yourself... 'Do I feel lucky?'"

 

[Deleted User]

one year projected means crap, look at their 5 year and max numbers.
Their max was a dime under 21/share in August of 2018, and it has been down hill from there with occasional recoveries

Nobody in their right mind thinks the stock is a good investment

Cumulus Media Inc. (CMLS) Stock Price, News, Quote & History - Yahoo Finance

Find the latest Cumulus Media Inc. (CMLS) stock quote, history, news and other vital information to help you with your stock trading and investing.

finance.yahoo.com

 

[SirRoxalot]

If you bought it at 6 early in the pandemic, it's been a pretty good stock for you. Way better than Audacy, for example.

 

[Rusty Bridges]

Aside from the Cumulus stock angle, this is an interesting legal settlement. Both the Bills and Cumulus were on the same page. I can imagine the attorneys from both companies approaching the plaintiffs, asking, "what's it going to take to make this go away?" The Bill and Cumulus came to the conclusion that this case had gone on too long and was a stone in their shoes. It wasn't worth a protracted fight: the expense of billable hours, the uncertainty of a verdict, and the PR costs were mounting. Both defendants cut their losses, and plaintiffs' counsel agreed to the terms. It's indicative of the 'hand' both parties held. The Jills, who haven't appeared at Buffalo Bills home games in years, aren't much missed by the fans who go to the games. And given the Bills' legal concession, it's likely they never again will.

 

[Deleted User]

There is an NFL wide issue with the Cheerleaders working for next to nothing, or for free, and being asked to do some sketchy things.

Former Cheerleaders Sue the NFL, Alleging Conspiracy Over Unfair Wages

The lead plaintiff in the lawsuit speaks out exclusively to "GMA."

abcnews.go.com

Investigation reveals how much Saints try to control cheerleaders’ personal lives

Complaint alleges the Saints try to control cheerleaders’ personal lives, and the cheerleaders themselves have a reasonable settlement offer.

www.sbnation.com

 

[SirRoxalot]

Compared to other suits by NFL cheerleaders it appears that the former Jills have hit a very rich vein. There have been several suits, and most have been settled for a lot less that $7.5-million - no matter how you value it. By the time the lawyers get done, the former Jills are likely to get about $70K each in cash and stocks. I'm assuming that the lawyers cut & fees will skim off about half of the settlement.

 

[Rusty Bridges]

By the time the lawyers get done, the former Jills are likely to get about $70K each in cash and stocks. I'm assuming that the lawyers cut & fees will skim off about half of the settlement.

It's usually 30 per cent, and I doubt the plaintiff's attorneys will accept Cumulus stock as compensation. Just speculatin'

 

[SirRoxalot]

It's usually 30 per cent, and I doubt the plaintiff's attorneys will accept Cumulus stock as compensation. Just speculatin'

30% doesn't include "expenses & fees" that add up over 8 years. Have you seen what they charge for making a copy of a letter they sent on behalf of the client(s)? There are also fees to "expert witnesses", administrative fees, and other items like medical records, reports, police paperwork, and filing fees. These will add to the total before the lawyer takes his or her percentage.

I'm sure that the attorneys would love to take the cash and dash, but the bankruptcy court may not allow that.

 

[Rusty Bridges]

30% doesn't include "expenses & fees" that add up over 8 years. Have you seen what they charge for making a copy of a letter they sent on behalf of the client(s)? There are also fees to "expert witnesses", administrative fees, and other items like medical records, reports, police paperwork, and filing fees. These will add to the total before the lawyer takes his or her percentage. I'm sure that the attorneys would love to take the cash and dash, but the bankruptcy court may not allow that.

Shoulda called Saul.