The Delaware Supreme Court has upheld the dismissal of a derivative suit challenging more than $13 million in payments the Viacom Inc. board made to founder and former chairman Sumner Redstone, even as the billionaire media mogul’s declining health prevented him from providing any services of value to the company.

The high court’s ruling, published in a two-sentence order on Friday, came just two days after lawyers for Viacom shareholder R.A. Feuer asked a three-justice panel in Dover to overturn a Delaware Court of Chancery judge’s decision in October, which found the suit was barred by the broad terms of a settlement in separate litigation releasing Viacom’s board members of “any and all” claims predating the August 2016 agreement.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]