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Freedman v. Redstone et al
Case Number:
1:12-cv-01052
Court:
Nature of Suit:
Judge:
Firms
Sectors & Industries:
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July 17, 2013
Viacom Board Gets $37M Executive Bonus Suit Axed
Viacom Inc. directors on Tuesday successfully fought off a shareholder suit targeting bonuses awarded to the media giant's top brass as a Delaware federal judge tossed a combined derivative and direct action that sought to recover nearly $37 million and halt further incentive payouts.
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October 23, 2012
Viacom Directors Look To Toss $37M Exec Pay Suit
Directors of media giant Viacom Inc. on Monday pressed a Delaware federal judge to toss a $37 million putative derivative and direct shareholder action over an incentive plan for top executives, arguing the plaintiff failed to properly demand that the board of directors bring the suit first.
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August 21, 2012
$37M Viacom Investor Suit Likely To Flop Despite Novel Tactic
Viacom Inc. shareholders got creative on Friday, suing the company for $37 million in damages under a federal law barring tax deductions for unwarranted executive pay, but experts said the gambit wasn't likely to see a better outcome than more traditional bonus suits.