Ex-CBS shareholders reach proposed $167.5 million settlement over Viacom deal
Reuters
Published May 26, 2023 11:48AM ET
Updated May 26, 2023 02:36PM ET
WILMINGTON, Delaware (Reuters) - Former CBS shareholders reached a proposed $167.5 million settlement to resolve allegations that Shari Redstone, the daughter of late media magnate Sumner Redstone, pressured the company into an unfair merger that created ViacomCBS (NASDAQ:PARA) Inc, now known as Paramount Global, according to a court filing.
The settlement covers holders of Paramount Global and CBS Class B stock from Aug. 13, 2019 to Dec. 4, 2019, according to a filing in Delaware's Court of Chancery.
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Written By: Reuters
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