CBS and its former Chief Executive Officer Leslie Moonves have settled sexual misconduct allegations with the New York Attorney General for $9.75 million, ABC News reports.
After two law firms conducted an investigation into sexual misconduct allegations against Moonves, the network fired him in 2018.
That prompted shareholders to file a lawsuit against CBS charging some of its current and former executives with failing to disclose or making false statements related to its workplace sexual harassment policy.
CBS settled with these nearly 170,000 shareholders for $15 million, without admitting liability or wrongdoing. A hearing for the final approval of that settlement is scheduled for Thursday.
In a filing with the Securities and Exchange Wednesday, CBS parent company, Paramount Global, said, “We have reached an agreement in principle to resolve this matter with the Investor Protection Bureau of the New York State Attorney General’s Office. The resolution includes no admission of liability or wrongdoing by the Company.”
CBS is paying $7.25 million of the settlement, and Mooves the remaining $2.5 million, according to a letter filed Wednesday with the federal judge handling the case.
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