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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:PARA) 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.
