LOS ANGELES, Dec. 11, 2008 (LAWFUEL) — Liner Yankelevitz
Sunshine & Regenstreif LLP (“LYS&R”) is investigating claims relating
to the Tribune Company (“Tribune” or the “Company”) and potential
violations of the Employee Retirement Income Security Act of 1974
(“ERISA”). The investigation focuses on the Company’s Employee Stock
Ownership Plan (“ESOP”).
LYS&R’s investigation involves whether Tribune and the Plan’s
fiduciaries may have breached their fiduciary duties of loyalty and
prudence to the Plan’s participants. A breach may have occurred if the
fiduciaries failed to prudently manage the Plan’s assets, by among
other things, causing the ESOP to purchase overvalued Company stock
when the Company was overleveraged, over-encumbering the ESOP with
debt, and continuing to purchase and/or hold Company stock after doing
so was no longer prudent given the financial condition of the Company.
A breach also may have occurred if the fiduciaries withheld or
concealed material information from the Plan’s participants with
respect to the Company’s business, financial results and operations.
If you are a member of the ESOP and would like to discuss this matter
or provide information relevant to our investigation, you may contact
any member of our team toll free at (866) 620-6722, or via e-mail at
classaction@linerlaw.com.
