Cablevision Investor Claims Nepotism, Waste Harming Stock

Law360, New York (March 10, 2014, 4:09 PM EDT) -- A Cablevision Systems Corp. shareholder filed suit Friday against founder Charles Dolan and his family in a Delaware state court, alleging the company's profits have been diluted by widespread nepotism and exorbitant salaries that value bloodlines over experience.

In a 46-page complaint filed on behalf of the telecommunications and media company, Gary Livingston claims the Dolans repeatedly have awarded “grossly excessive and unfair” salaries and other benefits to nearly every member of their family, all while the company's stock floundered compared to its competitors.

“The Dolans...
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