The complaint alleged that the Midway board breached its fiduciary duties of good faith and loyalty by putting "the interests of the Redstone Defendants [Sumner Redstone and National Amusements] above Midway's interests, and directed an apparently insolvent company to enter into a transaction with [Redstone] that piled $70 million in additional 'debt' on the struggling Midway."

The suit claims that the Midway board did not look for alternatives to put the embattled company on the right path, other than turning "immediately and solely" to Redstone.
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The creditors said in the complaint that Redstone "sacrificed" Midway by "secretly" transferring his stake in the company for the "de minimis amount of $100,000."

Creditors said that Redstone's sale of the company generated over $700 million in tax losses for the media mogul and his holding company National Amusements, "which enabled them to obtain a massive tax refund" to the detriment of Midway