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The Delaware Court of Chancery on Wednesday dismissed a derivative suit accusing the Viacom Inc. board of waste and breach of fiduciary duty for paying Sumner Redstone $13 million over the course of three years, even as the former chairman’s declining health prevented him from providing valuable services to the company.
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Tom McParland of Delaware Law Weekly can be contacted at 215-557-2485 or at firstname.lastname@example.org. Follow him on Twitter @TMcParlandTLI.