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.

More Biz

  • Mandatory Credit: Photo by AP/REX/Shutterstock (9178399b)Hillary

    Hillary Clinton Talks Russia, Trump, Putin and Midterm Elections at NYC Festival

    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 […]

  • Richard Simmons

    Prosecutors Charge Private Eye With Illegal Spying on Richard Simmons

    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 […]

  • Lionsgate General Counsel Left Amid Allegations

    Lionsgate General Counsel Left Amid Allegations of Sexual Abuse

    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 […]

  • 'Hammerhead' Takes Top Honors at New

    'Hammerhead' Takes Top Honors at New York Television Festival

    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 […]

  • Radiohead Coachella

    Radiohead Demands Answers in Drum Technician's Death

    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 […]

  • Kevin Durant LeBron James

    Kevin Durant Praises LeBron James' Lakers Move

    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 […]

More From Our Brands

Access exclusive content