CBS, Moonves Facing Class Action Suit

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Tough days for CBS Corp. and its CEO Les Moonves. Following allegations that appeared in The New Yorker, Moonves became the latest high-profile man accused of sexual harassment, and part of a deluge of such accusations that began with entertainer Bill Cosby in 2014 (since convicted and awaiting sentencing) and including former film producer Harvey Weinstein and over 200 other celebrities, politicians and CEOs. CBS is facing a shareholder lawsuit over the allegations. In a Complaint filed Monday, it has been alleged that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies.

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