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CBS.US
id: 602

CBS & Viacom M&A $167.5M Shareholder Settlement

Delaware court of Chancery
Court
2020-0111
Case number
13 Aug 2019
Class period Start
04 Dec 2019
Class period End
A settlement of $167.5 million has been reached by investors to resolve allegations of breached fiduciary duties in relation to the 2019 CBS & Viacom merger.

Who is eligible to get a payout?

All current holders of Paramount Global stock and all persons or entities who or which held shares of CBS Corporation Class B stock at any time between and including August 13, 2019, and December 4, 2019.

Do you need to sell your securities to be eligible?

No, if you have purchased them within the class period, you are eligible to participate.

How long does the payout process take?

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
Case Status
Disbursement
Alleged Offence
Misleading Statements
Financial Misrepresentation
Suspected Party
Directors
Management
Investment Bank
Security Type
Stocks
Trade Direction
Long
Filing date
20 February 2020
Plaintiffs
Cleveland Bakers and Teamsters Pension Fund, International Union of Operating Engineers of Eastern Pennsylvania and Delaware
Attorneys
Prickett, Jones & Elliott, P.A., Kessler Topaz Meltzer & Check, LLP, Grant & Eisenhofer P.A.
Defendants
National Amusements, Inc., the Sumner M. Redstone National Amusements Trust, Shari E. Redstone, Candace K. Beinecke, Barbara M. Byrne, Gary L. Countryman, Linda M. Griego, Robert N. Klieger, Martha L. Minow, Susan Schuman, Frederick O. Terrell, Strauss Zelnick, Joseph Ianniello
Administrator
A.B. Data Ltd
Settlement agreement date
2023-05-06
Court hearing date
06 September 2023
Objection deadline
22 August 2023
Hearing deadline
22 August 2023
Trades matching type
FIFO
+$167,500,000
Cash Settlement Amount

CBS Corporation

CBS Corporation operates as a mass media company worldwide. The company operates in four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes ...

    Ticker
    CBS.US
    ISIN
    US1248572026
    CIK
    0000106413
    Sector
    Communication Services
    Industry
    Entertainment
    Country
    USA
    Address
    51 West 52nd Street, New York, NY, United States, 10019