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FREEDMAN v. REDSTONE

No. 13-3372.

753 F.3d 416 (2014)

Robert FREEDMAN, Appellant v. Sumner M. REDSTONE; Philippe P. Dauman; Thomas E. Dooley; George S. Abrams; Alan C. Greenberg; Shari Redstone; Frederic V. Salerno; Blythe J. McGarvie; Charles E. Phillips, Jr.; William Schwartz; Robert K. Kraft; Viacom, Inc.

United States Court of Appeals, Third Circuit.

Filed: May 30, 2014.

Attorney(s) appearing for the Case

Daniel E. tsacme, Esq. , Barrack, Rodos & Bacine, Philadelphia, PA, A. Arnold Gershon, Esq. , (Argued), Barrack, Rodos & Bacine, New York, NY, Brian E. Farnan, Esq. , Joseph J. Farnan, Jr., Esq. , Joseph J. Farnan, III, Esq. , Rosemary J. Piergiovanni, Esq. Farnan Law, Wilmington, DE, Counsel for Appellant.

Jaculin Aaron, Esq. , Stuart J. Baskin, Esq. , (Argued), Shearman & Sterling, New York, NY, John P. DiTomo, Esq. , Jon Abramczyk, Esq. , Morris, Nichols, Arsht & Tunnell, Wilmington, DE, Counsel for Appellees.

BEFORE: FUENTES, GREENBERG, and VAN ANTWERPEN, Circuit Judges.

OPINION OF THE COURT

GREENBERG, Circuit Judge.

I. INTRODUCTION

Between 2008 and 2011, Viacom Inc. paid three of its senior executives — Board chairman Sumner Redstone, President and CEO Philippe Dauman, and COO Thomas Dooley — more than $100 million in bonus or incentive compensation. Although the compensation exceeding $1 million paid by a corporation to senior executives is not typically...

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