Mandi Bierly
March 23, 2011 AT 03:50 PM EDT

Howard Stern and his agent filed a lawsuit against Sirius XM Radio Inc., Stern’s employer for the next five years, claiming it owes them stock awards for helping to grow its subscribers. Per the AP, Stern’s production company, One Twelve Inc., and his agent Don Buchwald, say Sirius awarded them a bonus after Stern started with the company in January 2006, but failed to do so the next four years when its growth targets were also exceeded. Sirius has issued the following statement: “SIRIUS XM just signed a contract through 2015 with Howard Stern, and he is a valued part of our company. We were thus surprised and disappointed by the subsequent legal action initiated by his production company and agent. We have met all of our obligations under the terms of our 2004 agreement with Howard, his agent and production company.”

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