A Delaware Chancery Court judge has agreed to expedite a suit by a group New York City pension funds that are shareholders of Paramount Global against would be merger partners Par and Skydance, but denied their request for a temporary restraining order while the case plays out.

A Delaware judge on Thursday declined to issue an order to temporarily halt the merger between Paramount Global and Skydance Media. But in the ruling, Chancellor Kathaleen McCormick agreed to set a “break-neck pace” for an investor suit that seeks to block the deal in favor of a competing bid from Project Rise Partners.

Paramount Global’s $8 billion sale to Skydance Media LLC will move forward for now even as a judge weighs forcing the Paramount board to consider a last-minute $13.5 billion offer.

The biggest question for Judge McCormick, according to University of Pennsylvania Business Law School Professor Jill Fisch, is whether the largely unknown Prospect Rise Partners is a legitimate

A Delaware judge is willing to consider allegations in a class action lawsuit that Paramount Global's $8 billion sale to Skydance Media should be blocked from closing because it short-changes public shareholders,