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Former Top CBS Exec Joseph Ianniello Denies Unjust Enrichment Claim In Shareholder Lawsuit

25.03.2021 - 18:46

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deadline.com

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Joseph Ianniello, the former acting CBS CEO, denied claims of unjust enrichment and other allegations in a shareholder lawsuit contesting the 2019 merger of Viacom and CBS.The suit in Delaware Chancery Court largely targets majority owner Shari Redstone for allegedly stacking the Viacom board with allies and jamming the deal through against the best interests of CBS shareholders.

Ianniello, who left shortly after the merger closed, walked away with a $125 million package – the result of several revisions of his compensation and severance agreements that the suit alleges were aimed at garnering his support for a deal it claims he initially opposed.

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