CBS Stockholder Suit On ‘Sold’ Support Of Viacom-CBS Merger Can Proceed, Judge Rules

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CBS stockholders can continue to pursue a lawsuit over the 2019 merger of Viacom and CBS, a Delaware judge has ruled. Shari Redstone, daughter of late media mogul Sumner Redstone, stands accused of…

“sold” support for the deal to Shari Redstone in exchange for accepting a $125 million severance.

Vice Chancellor Joseph Slights of the Delaware Chancery Court rejected Ianniello and ViacomCBS motions to dismiss on Wednesday. In today’s ruling, the judge cited a reversal of positions by Redstone and Ianniello as worthy of examination. Iannello originally tried to block the merger, but then changed his mind. His reversal resulted in his severance ballooning from $60 million to $125 million. Redstone has criticized Ianniello’s severance at the lower figure, but then supported it in order to move the merger forward.“Both Ianniello’s and Ms.

Ianniello has disputed this allegation. He has claimed he originally thought that the merger was bad for CBS. But once former CBS CEO Les Moonves was ousted and Ianniello became acting CEO, he changed his mind. He left the company shortly after the

 

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NO!!! We have to DESTROY this ILLEGALLY merging and merged company!!! RESTORE_PARAMOUNT!!! DEATH_TO_VIACOM!!!

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