BOSTON (AP) – Massachusetts’ high court has revived a claim by a nephew of Sumner Redstone that the entertainment mogul and his brother cheated the younger Redstone.
But the Supreme Judicial Court on Friday backed a lower court’s ruling that it was too late for a separate and potentially more lucrative claim of wrongdoing in a 1984 transaction.
Michael Redstone claims the brothers cheated him out of shares of National Amusements Inc. in a 1972 transaction. He claims the mogul bought out his father, Edward, partially with shares that belonged to Michael and his sister.
National Amusements is a holding company that owns and operates theaters and holds Sumner Redstone’s interests in CBS and Viacom. Sumner Redstone is chairman of both companies.
The Supreme Judicial Court rejected a lower court’s ruling that the statute of limitations had expired, saying the three-year limit on filing such claims began only in 2004 when Michael says he realized he was shortchanged. Michael Redstone sued in November 2006.
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