According to a press release a law firm is currently on behalf former and current employees Of Tribune Company that are member of the Companys Employee Stock Ownership Plan investigating claims relating to the Tribune Company (Tribune or the Company) and potential violations of the Employee Retirement Income Security Act of 1974 (ERISA).

According to the press release the investigation focuses on the Companys Employee Stock Ownership Plan (ESOP and involves whether Tribune Company and the plans fiduciaries may have breached their fiduciary duties of loyalty and prudence to the plans participants. A breach, so the investigation, may have occurred if the fiduciaries failed to prudently manage the plans assets, by among other things, causing the ESOP to purchase overvalued Tribune Company stock when the Tribune Company was overleveraged, over-encumbering the ESOP with debt, and continuing to purchase and/or hold Company stock after doing so was no longer prudent given the financial condition of the Company and/or a breach also may have occurred if the fiduciaries withheld or concealed material information from the Plans participants with respect to the Companys business, financial results and operations.