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Redstone, Viacom Board Forced Through CBS Merger, Suit Says (1)

Dec. 3, 2019, 6:16 PMUpdated: Dec. 3, 2019, 10:13 PM

Media mogul Shari Redstone and the board of Viacom Inc. were hit with a Delaware lawsuit accusing them of selling out shareholders by forcing through its $11.7 billion merger—set to close Dec. 4—with CBS Corp., which Redstone also owns.

The Chancery Court suit comes about a week after a judge ruled in a different case that CBS must turn over corporate records related to the all-stock deal, finding that a Pennsylvania pension fund alleged a “credible basis to suspect wrongdoing.” The new suit, which doesn’t target CBS, is partly based on those disclosures, according to the complaint filed by ...