Cablevision Inches Closer To Settlement Over Dividend

Law360, New York (March 28, 2006, 12:00 AM EST) -- In a move to settle a shareholder lawsuit, the board of Cablevision Systems Corp. has appointed a committee of independent directors to evaluate the contested payment of a proposed $3 billion special dividend, according to a U.S. Securities and Exchange Commission filing on Tuesday.

Cablevision has entered a memorandum of understanding to resolve the matter over the challenged special dividend. The settlement is pending approval in the New York State Supreme Court in Nassau County.

Terms of the settlement were not disclosed in the filing....
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