Viacom Settles $120M Class Action Over Alleged Misleading Stock Offering Statements
Deadline
Deadline: August 22, 2025
Total Settlement Amount
Total amount allocated for all claims
Individual Payout Range
Estimated amount per eligible claim
Proof of Purchase
Claimants must provide documentation proving their purchase or acquisition of eligible ViacomCBS securities, including transaction dates, prices, and quantities.
Settlement Summary
Viacom, now known as Paramount Global, has agreed to a $120 million settlement in a class action lawsuit regarding allegations of misleading statements in their offering materials for specific stocks announced in March 2021. Stockholders accuse ViacomCBS of issuing offering materials that contained false or misleading statements and omissions about their holdings and intentions concerning Viacom securities and Archegos Capital Management, thus violating the Securities Act of 1933. This law regulates the issuance and distribution of securities to prevent fraud and misrepresentation. The settlement payout depends on the number of valid claims and the claimant's recognized loss, with an estimated amount of $10.00 or more per share of ViacomCBS Class B Common Stock and $0.50 or more per share of ViacomCBS 5.75% Series A Mandatory Convertible Preferred Stock.
Entities Involved
Eligibility Requirements
- Must have purchased or acquired ViacomCBS Class B Common Stock or 5.75% Series A Mandatory Convertible Preferred Stock in the specified offerings or traceable to those offerings
- Must have suffered damages as a result of this purchase
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