CBS Files Lawsuit Against National Amusements Alleging Breaches Of Fiduciary

(RTTNews) - CBS Corp. (CBS.A and CBS) and the Special Committee of its Board of Directors, Monday filed a lawsuit in Delaware Court of Chancery alleging breaches of fiduciary duty by National Amusements, Inc.,

The filings also sought to prevent National Amusements from interfering with a special meeting of the Board of Directors. The meeting was scheduled to consider declaring a dividend of shares of Class A common stock to all of the Company's Class A and Class B stockholders.

CBS further said the dividend, if issued, would dilute National Amusements's voting interest from approximately 79 to 17 percent. If consummated, the dividend would enable the Company to operate as an independent, non-controlled company and more fully evaluate strategic alternatives.