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Suits in Delaware fight Viacom/B’buster deal

Blockbuster Entertainment — which has agreed to be acquired by Viacom in a $ 8.4 billion deal — said that four lawsuits have been filed in Delaware state court challenging the proposed merger.

Blockbuster said the lawsuits, which purport to be class actions on behalf of all Blockbuster’s public stockholders, allege generally that the directors of Blockbuster breached their fiduciary duties to the public stockholders by failing to attempt to maximize stockholder value in the sale of the company.

The lawsuits seek preliminary and permanent injunctive relief and unspecified money damages.

Blockbuster said it believes the lawsuits are without merit and that the company and its directors intend to vigorously defend the actions.

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