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Herzer: Sumner Redstone A 'Pawn' In 'Chairmanship Battle'

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Herzer: Sumner Redstone A 'Pawn' In 'Chairmanship Battle'

Former CBS Corporation (NYSE: CBS) and Viacom, Inc. (NASDAQ: VIAB) chairman Sumner Redstone's former caretaker Manuela Herzer claimed Redstone was manipulated in the chair transition as his health deteriorated.

“Sumner has become a pawn in a highly-publicized battle for the Chairmanship of Viacom,” Herzer wrote in a court filing, according to Deadline.

Deadline quoted Redstone’s lawyers as saying, “This is a pre-death trust contest dressed up as a health care litigation.”

Related Link: Sumner Redstone To Step Down As Head Of CBS

The legal fight began after Redstone removed Herzer from her capacity as executor of his advance directive, a set of instructions to be carried out in case Redstone became incapacitated, in October. She was removed from his will shortly after.

Shari Redstone, Sumner’s formerly estranged daughter, claims her father’s condition has improved since Herzer was removed from his life, according to the LA Times.

Investors seem nervous about the legal drama. Shares of both CBS and Viacom were trending down about 1 percent Friday afternoon.

Image Credit: Public Domain

Posted-In: Deadline LA Times Manuela Herzer Shari RedstoneNews Rumors Movers Trading Ideas

 

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