The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional details.

Lead Plaintiff California Public Employees’ Retirement System (“CalPERS”) or (“Lead Plaintiff”), on behalf of itself and the Settlement Class (defined below) and Additional Plaintiffs Park Employees’ and Retirement Board Employees’ Annuity and Benefit Fund of Chicago (“Chicago Park”) and Louis Wilen; defendants Shari E. Redstone, National Amusements, Inc., NAI Entertainment Holdings LLC, Thomas J. May, Judith A. McHale, Ronald Nelson, and Nicole Seligman (collectively, “Defendants”); and Paramount Global (“Paramount,” and together with Lead Plaintiff and Defendants, the “Parties”) have reached a settlement of this stockholder class action for $122,500,000 in cash (the “Settlement”).

On July 25, 2023, the Court held a hearing to consider final approval of the Settlement and related matters. Following the hearing, the Court entered an Order and Final Judgment finally approving the Settlement, approving the Plan of Allocation for the proceeds of the Settlement, and awarding attorney’s fees and litigation expenses.

The Settlement Class certified by the Court for purposes of the Settlement consists of:

All holders of Viacom common stock at any time from August 13, 2019 through and including December 4, 2019, whether beneficial or of record, including the legal representatives, heirs, successors-in-interest, transferees, and assignees of all such foregoing holders, except for certain persons and entities who are excluded from the Settlement Class by definition as stated in paragraph 19 of the Notice.

If you are a member of the Settlement Class, you may be eligible to receive a pro rata distribution from the Settlement proceeds.

Eligible Class Members do not need to submit a claim form in order to receive a distribution from the Settlement. If you are eligible to receive a distribution from the Settlement, your distribution will be paid to you directly. See paragraphs 25-35 of the Notice for further discussion.

Please be patient. It will take some time to conduct the Settlement distribution.

Please read the Notice carefully. If you have questions, you may call the Viacom Stockholders Litigation Help Line at (877) 390-3177 or email info@ViacomStockholdersLitigation.com.