Paramount Global (PARA) must hand over certain internal files to a pension fund that has raised concerns about the company's acquisition by Skydance Media, Bloomberg reported, citing a Wednesday order by Delaware Chancery Court Judge Travis Laster.
The Employees' Retirement System of Rhode Island owns stake in Paramount and alleges that there is enough basis to infer potential corporate wrongdoing in the deal.
Paramount did not immediately reply to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 11.10, Change: +0.04, Percent Change: +0.36
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.