Market Overview

Redstone, Herzer Legal Drama: Where Is It Heading?

Share:
Redstone, Herzer Legal Drama: Where Is It Heading?
Related CBS
Here's Who Vegas Likes In The 2017 Final Four
Needham Downgrades Apple...To Buy
Related VIAB
Barron's Picks And Pans: Apple, Viacom, Micron And More
Watch These 8 Huge Call Purchases In Thursday Trade
Nasdaq Leads Bullish Recovery; Viacom, Tesla, DuPont Show Strength (Investor's Business Daily)

The trial over the mental competence of Sumner Redstone, the controlling shareholder of Viacom, Inc. (NASDAQ: VIAB) and CBS Corporation (NYSE: CBS), could come to an abrupt end on Monday, according to a report on Reuters*.

A California judge is expected to decide on a lawsuit from Redstone's former girlfriend Manuela Herzer who sued Redstone saying he was not mentally competent when he removed her as his designated healthcare agent last October.

Related Link: Herzer: Sumner Redstone A "Pawn" In Chairmanship Battle

The report said 92-year-old Redstone's attorneys argued for the case's dismissa, saying their client was competent. On the other hand, attorneys of Herzer argued that only a full trial, "rather than looking at Redstone's testimony in a vacuum or in isolation," could determine whether Redstone was competent.

"A transcript of the recording shows Redstone struggling to answer some questions coherently. But he was exceptionally clear about not wanting Herzer to play any role in his life," the report added.

Shortly after Monday's market open, Viacom was up 0.41 percent at $41.49, while CBS was down 0.26 percent at $57.51.

*Editor's Note: The original Reuters article contains language that may offend some readers.

Posted-In: Reuters Sumner RedstoneNews Legal Movers Media Best of Benzinga

 

Related Articles (CBS + VIAB)

View Comments and Join the Discussion!