WILMINGTON, Del. | Judge mulls CBS restraining order against major shareholder
WILMINGTON, Del. (AP) — A Delaware judge ordered a pause on Wednesday in a dispute between CBS and its majority shareholder that could decide control of the company.
Chancellor Andre Bouchard granted CBS a temporary restraining order prohibiting National Amusements Inc. from taking any action to thwart a scheduled Thursday board vote on a dividend that would dilute National Amusement’s preferred stock voting power from 80 percent to 17 percent, effectively giving CBS independence.