CBS Board Tries To Nix Derivative Suits

Law360, New York (March 9, 2010, 5:49 PM EST) -- Executive board members at CBS Corp. have filed a motion to dismiss two consolidated shareholder derivative suits that allege the board artificially inflated CBS' stock price to further the financial interests of Sumner M. Redstone, the company's chairman and majority shareholder.

The executives filed their motion Monday in the U.S. District Court for the Southern District of New York, saying the plaintiffs — a pension fund and an individual shareholder — failed to follow Federal Rules of Procedure and Delaware law, which governs the dispute, for...
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