1. Shareholder Lawsuit Accuses CBS Board of Granting ‘Gratuitous’ Sumner Redstone Salary

    Shareholder Lawsuit Accuses CBS Board of Granting ‘Gratuitous’ Sumner Redstone Salary

    A CBS shareholder charges in a new legal filing that corporate board members and CEO Leslie Moonves were “recklessly profligate” when they approved nearly $13 million in pay over three years for one-time chairman Sumner Redstone , after it became clear that he was “incapacitated beyond recovery.” The most damning new evidence in the amended complaint, filed in Delaware Chancery Court, comes from Redstone’s own admissions about his condition, in a lawsuit against two former caretakers and paramours — Manuela Herzer and Sydney Holland. The filing says that the corporate leaders looked out for ...

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