CBS Lawsuit Settlement OKd: A federal judge...

CBS Lawsuit Settlement OKd: A federal judge approved a $6-million settlement of a suit filed by a CBS shareholder who claimed the firm that owns the CBS television network was mismanaged from 1983 to 1986. The lawsuit was brought in 1986 by Roger Minkoff, a real estate investor from St. Croix, Virgin Islands, who owns 12 CBS shares. The settlement, in which CBS Inc. management admits no wrongdoing, will be paid by a corporate insurance policy. It was reached Nov. 28. Of the settlement, $4.5 million will go to the CBS treasury for an indirect benefit to shareholders. The remaining $1.5 million will go to Minkoff’s attorney. Minkoff will receive $15,000 from the attorney’s portion.