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Ex-employees sue Zell

September 17, 2008 by Veronica Villafañe

Several former and current Los Angeles Times employees filed a lawsuit yesterday against Tribune Co., and its chief executive, Sam Zell. According to an article in the Times, the lawsuit claims the reckless management is destroying the value of the company and that Zell and former Tribune CEO Dennis J. FitzSimons “devised a plan to take the company private to enrich themselves to the detriment of employees.” A WSJ article points out the lawsuit also claims Zell and other Tribune officials0 “have improperly raided worker pension funds.”

Here’s the PDF copy of the complaint, obtained by ERSNews.

The plaintiffs seek to recover losses to the employee stock-option plan (ESOP), replace the Tribune board of directors and the ESOP trustee, and a full accounting of pension plan assets.

Filed Under: People

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Veronica Villafañe, Editor & Publisher

Emmy award-winning journalist and former president of the National Association of Hispanic Journalists (NAHJ). Most recently, a reporter for Voice of America, she has worked as an on-air reporter, anchor, writer and producer for Spanish and English-language TV, print and online media, including Univision, Telemundo, Fox 11 News in L.A. and the San Jose Mercury News.

She is also a Hispanic media and entertainment contributor to Forbes.

Full bio here
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