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© Reuters. FILE PHOTO: Non-executive chairwoman of Paramount Global and president of National Amusements Shari Redstone arrives to attend the annual Allen and Co. Sun Valley Media Conference in Sun Valley, Idaho, U.S., July 5, 2022. REUTERS/Brendan McDermid
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:) 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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