WILMINGTON, Del. | Judge mulls CBS restraining order against major shareholder

16May - by Editor - 0 - In STL.News



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.

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