The New York Attorney General's Office said the majority of the settlement funds will be returned to company shareholders.
CBS and Leslie Moonves, the company's former CEO and president, reached a settlement Wednesday with the New York State attorney general, ending an investigation into allegations the company concealed sexual misconduct allegations against Moonves, misled investors and engaged in insider trading.
James' office concluded that CBS and some senior executives were aware of multiple sexual assault allegations against Moonves and"intentionally concealed those allegations from regulators, shareholders, and the public for months," according to a press release. "He assured CBS executives that he had spoken to his contacts within the LAPD and implemented controls to prevent news of the police report from leaking to the press from the LAPD," the office wrote in its press release.
"As a result, CBS and Mr. Moonves are required to pay $30.5 million, the majority of which will be returned to CBS shareholders," the office said in its press release, adding that the company"is also required to reform its HR practices around sexual harassment, including reporting and training, and provide biannual reports to OAG."Les Moonves attends an event at Lincoln Center in New York City on February 1, 2017.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hospitalizations on the rise in New York City as new COVID strains spread rapidlyHospitalizations are rising again in New York City with the spread of new COVID-19 subvariants that are better at evading immunity, along with flu and...
Read more »
Mayor Adams announces new plan to address NYC attorney shortageNEW PLAN: NewYorkCity Mayor Eric Adams announced a new initiative designed to help junior attorneys in the city. MORE:
Read more »
Latest Paul Haggis Defense Witnesses Keep Scientology Front And Center In New York Trial – UpdateUPDATED with afternoon session: The oldest daughter of filmmaker Paul Haggis said Monday there is “circumstantial” evidence of a Church of Scientology plot against her father, who is facing a rape …
Read more »
Former New York Post employee apologizes for racist posting spree | Engadget“I deserved to get fired for a very volatile, irresponsible, and disgusting action and an utmost betrayal of the New York Post.'.
Read more »
New York Restaurants Through the Eyes of Gael Greene, Who Died at 88Greene was a critic who did not hold back, lacing her missives with prose that ranged from straightforwardly enthusiastic to overtly sensuous, sensual, and sometimes acerbic (via EaterNY)
Read more »
Polls show tight race for New York governor as Early Voting continuesPolls show tight race for New York governor, as court rules absentee ballots will count. ZinniaDee_TV has more.
Read more »