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CBS, Moonves must pay $30.5 million for insider trading

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NEW YORK (AP) — CBS and its former president, Leslie Moonves, will pay $30.5 million as part of an agreement with the New York attorney general’s office, which says the network’s executives conspired with a Los Angeles police captain to conceal sexual assault allegations against Moonves.

The broadcast giant is required to pay $22 million to shareholders and another $6 million for sexual harassment and assault programs. Moonves will have to pay $2.5 million, all of which will benefit stockholders who the New York attorney general said were kept in the dark because network executives concealed the allegations.

 

Source: AP – All contents copyright 2022 Associated Press.  All rights reserved.

 

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