Les Moonves Forgoes $120M Severance In ViacomCBS Deal
Law360 (May 14, 2021, 11:05 PM EDT) -- ViacomCBS announced Friday that the media conglomerate has resolved its dispute with ex-CBS Corp. Chairman and CEO Leslie Moonves, although the former executive will not be receiving his $120 million severance package.
Moonves resigned from the company in 2018 amid sexual misconduct allegations from multiple women.
At the time, CBS and Moonves inked a separation agreement placing his $120 million severance in a grantor trust pending the results of an investigation by Covington & Burling LLP and Debevoise & Plimpton LLP. The agreement also let Moonves challenge the firms' findings in binding arbitration.
In a Friday filing with the U.S. Securities and Exchange Commission,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!