Paramount Loses Bid to Get Warner Bros. Suit on Fast Track (3)

A judge refused to fast track Paramount Skydance Corp.’s lawsuit accusing directors of Warner Bros. Discovery Inc. of misleading investors about a more than $82.7 billion buyout bid from Netflix Inc.

Delaware Chancery Court Judge Morgan Zurn on Thursday found Paramount’s demands didn’t meet legal tests for expediting a hearing into accusations Warner Bros.’ board made erroneous disclosures about the deal.

Zurn said the entertainment giant failed to show it would “suffer irreparable harm” by Warner Bros.’ allegedly deficient disclosures. The judge explained that as a stockholder Paramount can’t be harmed directly by a lack of disclosures since ...