Paramount Agrees to Pay $14.75 Million to CBS Corp Shareholders in Les Moonves Case
thewrap.coma New Yorker article by Ronan Farrow in which six different women accused Moonves of sexual misconduct in incidents going back decades.
In December, CBS denied him a $120 million severance package after the board reviewed the findings of an investigation conducted by two law firms hired by the network.
Reuters first reported the settlement Monday. In the lawsuit, CBS investors accused Moonves, acting CEO Joe Ianniello, and other network executives of selling off more than $200 million worth of stock while failing to disclose their findings about widespread sexual harassment complaints at the network.In 2020, a Manhattan judge found that Moonves’ 2017 statement in support of the #MeToo movement was the only one cited by the plaintiffs that could have misled investors, and dismissed other claims.CBS Corp merged with Viacom in 2019 to become ViacomCBS, which rebranded as Paramount Global in February.Pamela Chelin contributed to this report..
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