03.02.2021
CCCL Associate Director Dr. Lauren Yu-Hsin Lin’s work has recently been cited by the Court of Chancery of Delaware in In re CBS Corporation Stockholder Class Action and Derivative Litigation (Consolidated C.A. No. 2020-0111-JRS). The lawsuit arises from the CBS’s $30 billion acquisition of Viacom in December 2019. Shareholders alleged that the directors breached their fiduciary duty in approving the deal to appease the controller who controls 80% of the voting rights through dual-class share structure. Dr. Lin’s paper Controlling Controlling-Minority Shareholders: Corporate Governance and Leveraged Corporate Control published at Columbia Business Law Review discusses the policy and governance issues in relation to dual-class share structure.
