In 2018, the Delaware Court of Chancery held that shareholder demand was partly excused and claims for corporate waste, bad faith, and unjust enrichment could proceed against CBS Corporation over compensation paid to former Executive Chairman Sumner Redstone.
Notes on verification
Confirmed by court opinion (CourtListener), law firm analysis, National Law Review, and news coverage (Variety, Insurance Journal) corroborating the Delaware Court of Chancery ruling. [tier=gold indep_score=0.85 clusters=5 claim_tier=notable]
Sources
- Continued Compensation to Incapacitated Controllers (seed:psychology_and_neuroscience)
- https://www.courtlistener.com/opinion/4488315/ra-feuer-v-sumner-m-redstone/ (corroboration)
- https://delawarechancery.foxrothschild.com/derivative-actions/corporate-waste-claim-survives-motion-to-dismiss/ (corroboration)
- https://natlawreview.com/article/chancery-court-allows-complaint-alleging-waste-corporate-assets-to-move-forward-to (corroboration)
- https://www.insurancejournal.com/news/national/2019/03/18/520868.htm (corroboration)
- https://variety.com/2019/biz/news/cbs-sumner-redstone-settlement-lawsuit-1203164537 (corroboration)