© Reuters. FILE PHOTO: ViacomCBS headquarters is pictured in New York, New York, U.S. December 5, 2019. REUTERS/Kate Munsch
(Corrects first paragraph to say Paramount agreed to a settlement, not that it agreed to pay investors)
(Reuters) -Paramount Global has agreed to a $167.5 million settlement regarding a case stemming from the 2019 merger of Viacom Inc and CBS Corp (NYSE:CBS_old) that created the entertainment company, a filing showed.
Paramount and investors agreed to the settlement reached on April 18, according to a Securities and Exchange Commission filing published on Friday.
CBS shareholders filed three separate suits, which were later consolidated, alleging the company had overpaid for Viacom, clearing the way for media mogul Shari Redstone to reunite the family's media holdings.
Paramount reached a $122.5 million settlement in March with Viacom shareholders that also stemmed from the merger.
We read at: Investing.com