Viacom Investors Reject Del. Redstone Damage Suit Attacks

Law360, Wilmington (March 20, 2017, 8:46 PM EDT) -- Stockholders who sued Viacom Inc.’s directors and controlling stockholders in Delaware over an infirm Sumner Redstone’s role in the business insisted Friday their action made direct claims against key figures, and denied claims that investors should have demanded board reforms before suing.

In an answer to a dismissal motion filed by Viacom and Redstone's National Amusements Inc., the investor group said their Chancery Court lawsuit cited direct claims for fiduciary duty violations by board members who “continually nominated” Sumner Redstone as controlling member.

“These claims are...
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