Investors Take CBS Fraud Action To 2nd Circ.

Law360, New York (June 23, 2011, 7:12 PM EDT) -- Omaha, Neb., and other investors on Wednesday appealed to the Second Circuit the dismissal of a putative fraud class action claiming CBS Corp. delayed taking an impairment charge against its assets for the personal benefit of Chairman Sumner Redstone.

The appeal came a month after U.S. District Judge P. Kevin Castel threw out the suit in New York for a second time, awarding final judgment to CBS and Redstone, as well as CEO Leslie Moonves and two other individual defendants.

"While the amended pleading sets forth...
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Case Information

Case Title

City of Omaha et al v. CBS Corporation et al


Case Number

1:08-cv-10816

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

P. Kevin Castel

Date Filed

December 11, 2008

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