This suit comes just days after Sirius XM settled an earlier suit and agreed to pay $13 million in attorney and other fees, without admitting liability or the validity of the claims. This time, Robert Michael Shenk files in U.S. District Court court for the Southern District of New York, alleging "violations of state law, including breaches of fiduciary duties, gross mismanagement, waste of corporate assets, and unjust enrichment." Shenk claims that all occurred between February 2007 and the present, and he seeks reform of corporate governance, including a louder voice on the board for shareholders. Shenk's suit names Karmazin and other officers of Sirius XM, plus the company itself. Spencer Osborne of SiriusBuzz.com reports the new shareholder suit, and after going through the basics of what Shenk is asking for, says "this appears to be yet another class action that will require Sirius XM to spend money to defend."