- A Massachusetts judge has granted the request of Viacom (VIA +5.8%, VIAB +3.9%) CEO/Chairman Philippe Dauman to expedite his effort to reverse the decision removing Dauman from Sumner Redstone's trust.
- Yesterday, Dauman had asked for a trial date no later than September on his challenge, and said that he would require a medical exam of Redstone to evaluate his mental competency. The judge today set a hearing for the morning of June 7.
- Dauman and Viacom board ally George Abrams were removed last Friday from the seven-member trust that will eventually manage Sumner Redstone's assets, including controlling stakes in Viacom and CBS (CBS +1%). Dauman and Abrams are alleging that Redstone's daughter Shari is manipulating the 93-year-old in order to get control of the companies.
- Previously: Viacom now up 5% after expanded Cox carriage deal (May. 27 2016)
- Previously: CNBC: Viacom board preparing for wholesale ouster as soon as today (May. 27 2016)