In re Madison Square Garden Entertainment Corp. Stockholders Litigation, Consol. C.A. No. 2021-0468-LWW
KTMC brought claims by stockholders of Madison Square Garden Entertainment (“MSGE”) to challenge the proposed merger of MSGE and Madison Square Garden Networks (“MSGN”). Both companies were controlled by James Dolan, and plaintiffs alleged that the merger was designed to save the network company in an age of accelerated cord-cutting, just as MSGE was returning to profitability with the return of live entertainment after the COVID-19 pandemic. KTMC negotiated a settlement of $85 million shortly before trial.