NY AG Letitia James says CBS hid sexual harassment allegations against Mr. Moonves
New York Attorney General Letitia James announced Wednesday that CBS Corp and its former CEO, Leslie “Les” Moonves, are on charges of insider trading, misleading investors, and allegedly attempting to hide sexual harassment allegations against Mr. have agreed to pay a total of $30.5 million. Moon.
The Attorney General’s Office (OAG) said in a press release that its investigation found that CBS’ senior leadership was aware of the sexual assault allegations leveled against Moonves, but deliberately took months before the allegations were made public. hid.
The OAG said it needed a . text messages received between angel The Captain of the Police Department (LAPD), Moonves and another CBS executive called the captain “shared confidential information and worked with CBS officials” to keep the claims quiet.
James’ office also said the investigation found that another senior CBS executive siphoned off millions of dollars of CBS stock over the weeks, leading to allegations against Moonves.
Under the agreement with OAG, CBS will pay $28 million, and Moonves will pay $2.5 million. OAG said CBS shareholders will receive $24.5 million in the settlement, and $6 million will be directed to strengthen “mechanisms for reporting and investigating complaints of sexual harassment and assault.”
“CBS and Leslie Moonves’s efforts to silence the victims, lie to the public, and mislead investors can only be described as reprehensible,” James said in a statement. “As a publicly traded company, CBS has failed its most basic duty of being honest and transparent with the public and investors. After trying to bury the truth to protect its fortunes, today CBS And Leslie Moonves is getting paid millions of dollars for his wrongdoing.”
Moonves resigned from CBS in 2018 after several women published sexual misconduct allegations against him in articles in The New Yorker and The New York Times.
Investors later claimed CBS shares fell by about 10%.
Moonves was Denied his $120 million severance terminated by the CBS Board of Directors, which at the time determined that “his willful and material misconduct, breach of company policies and breach of his employment contract, as well as his willful failure to cooperate fully There are grounds to conduct an investigation of the company.”
The following year, CBS’s Viacom Inc. and became ViacomCBS, and was renamed Paramount Global in February 2022.
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Moonves has previously denied any wrongdoing, and described their sexual encounters as consensual.
Fox News’ Nicole Darrah and Reuters contributed to this report.
Credit: www.foxbusiness.com /