In April 2018, in a derivative suit on behalf of CBS, the Delaware Court of Chancery let a waste and bad-faith fiduciary claim against CBS's other directors proceed over salary paid to Sumner Redstone, and an unjust-enrichment claim against Redstone proceed over his Chairman Emeritus salary, while dismissing the challenge to his $9 million 2014 bonus.
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.
Sources
- Continued Compensation to Incapacitated Controllers (corpgov.law.harvard.edu)
- https://www.courtlistener.com/opinion/4488315/ra-feuer-v-sumner-m-redstone/ (courtlistener.com)
- https://delawarechancery.foxrothschild.com/derivative-actions/corporate-waste-claim-survives-motion-to-dismiss/ (delawarechancery.foxrothschild.com)
- https://natlawreview.com/article/chancery-court-allows-complaint-alleging-waste-corporate-assets-to-move-forward-to (natlawreview.com)
- https://www.insurancejournal.com/news/national/2019/03/18/520868.htm (insurancejournal.com)
- https://variety.com/2019/biz/news/cbs-sumner-redstone-settlement-lawsuit-1203164537 (variety.com)