CBS controlling shareholder fires back over board vote

CBS Corp.'s controlling shareholder fired back Tuesday over a board attempt to dilute the shareholder's stock voting power, the latest move in an escalating legal battle for control of the media company. In complaint filed in Delaware's Chancery Court, National Amusements Inc. argues that a CBS board vote to approve a dividend that would drastically reduce NAI's voting stake in CBS was invalid. NAI claims the vote violated CBS's bylaws and corporate charter, and that CBS board members violated their fiduciary duties to stockholders.