In the Headlines
January 30, 2009
Minority-owned Tama Broadcasting seeks damages from station managers
Tampa Bay Business Journal
Class Action Litigation Partner Charles Wachter was quoted in "Minority-owned Tama Broadcasting seeks damages from station managers" in the Tampa Bay Business Journal. The article discusses the case of a former chief executive of several Tampa-based radio stations such as Tama Broadcasting who filed a class action lawsuit against the stations' current managers for running predatory lending practices. He is also seeking $250 million in damages and for the loss of his business.
In a twist, the lead attorney on the executive's case is listed as a plaintiff as well as an equity holder in Tama Broadcasting. A district court judge has yet to determine whether this case can become a class action. Wachter was approached for advice in this matter, where he stated, "in a class action suit, the plaintiff owes a duty of undivided loyalty to potential class members, and if the lawyer is also a plaintiff, there could be a risk of a conflict of interest."
READ: Minority-owned Tama Broadcasting seeks damages from station managers
In a twist, the lead attorney on the executive's case is listed as a plaintiff as well as an equity holder in Tama Broadcasting. A district court judge has yet to determine whether this case can become a class action. Wachter was approached for advice in this matter, where he stated, "in a class action suit, the plaintiff owes a duty of undivided loyalty to potential class members, and if the lawyer is also a plaintiff, there could be a risk of a conflict of interest."
READ: Minority-owned Tama Broadcasting seeks damages from station managers