CBS Execs Nabbed $200M As Scandals Brewed, Investors Say
Law360 (June 12, 2019, 5:50 PM EDT) -- CBS and Les Moonves must face claims they committed securities fraud by touting their workplace ethics as sexual assault allegations piled up around the former CEO so that insiders could pocket over $200 million before CBS stock took a nose dive, investors insisted.
CBS Corp. investors, led by the Construction Laborers Pension Trust for Southern California, told a New York federal judge that both the network and Moonves can’t prevail on their attempts to dismiss the proposed class action. CBS knew about allegations that Moonves sexually assaulted female colleagues long before the scandal broke but chose to mislead investors by pushing a narrative...
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