Hughes Electronics got its first - but probably not its last-shareholder suit trying to force an auction of the company now that EchoStar has laid down an offer.
Shareholder Debbie Wuzel filed a suit in Wilmington, Del. chancery court seeking to block Hughes and parent company General Motors from cutting a deal with Rupert Murdoch's News Corp. without holding an open auction so that both suitors' bid can be considered. The suit seeks to certify a class action of all Hughes shareholders.
While Murdoch has been courting Hughes parent GM for 18 months, he has not publicly detailed an offer to take over the company and its DirecTV DBS unit. - John Higgins