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$4.5M Settles Katzenberg DreamWorks-Comcast Merger Suit

Law360, Wilmington (January 12, 2018, 5:59 PM EST) -- DreamWorks founder Jeffrey Katzenberg and his company’s successor have agreed to pay $4.5 million to settle a Delaware stockholder suit claiming that a Katzenberg side-deal shortchanged other shareholders during negotiation of the company’s $3.8 billion sale to Comcast Corp. in early 2016.

The Delaware Chancery Court settlement, which was made public late Thursday and still requires court approval, includes a declaration that Katzenberg admitted no wrongdoing by entering into the case-ending agreement. Stockholders likewise said in the settlement that their allegations of a fiduciary duty breach...
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