Judge Boots Fraud Suit Against CBS, Leaves Opening

Law360, New York (March 17, 2010, 2:56 PM EDT) -- A federal judge has ruled that a putative class action accusing CBS Corp. and its principals of timing an impairment charge for the personal benefit of company chairman Sumner Redstone did not adequately plead fraud, while giving the plaintiffs leave to replead.

Judge P. Kevin Castel's decision, issued Tuesday in the U.S. District Court for the Southern District of New York, marked a victory for the Tiffany Network.

The named plaintiffs, including the city of Omaha, Neb., asserted claims on behalf of anyone who bought the...
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