Redstone, Viacom Board Pushed 'Unfair' CBS Deal, Suit Says
Law360, Wilmington (December 3, 2019, 9:27 PM EST) -- A Viacom investor has filed a proposed class action in Delaware Chancery Court accusing Shari Redstone and Viacom officers of breaching their fiduciary duty by pushing a "long-anticipated yet much-maligned" $30 billion merger with CBS, asserting the tie-up is "patently unfair" to Viacom shareholders.
In a suit made public late Monday, investor Louis M. Wilen asserts that Redstone has "steamrolled and effectively reconstituted" the boards of directors of three companies to realize her goal of combining the media and entertainment giants.
"Shari Redstone vigorously fought for years to assume control of the media empire her father Sumner Redstone built so that...
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