CBS, Moonves must pay $30.5 million for insider trading

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CBS, Moonves must pay $30.5 million for insider trading
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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.

FILE - Then-CBS president Leslie Moonves attends the CBS Network 2015 Programming Upfront at The Tent at Lincoln Center on May 13, 2015, in New York. CBS and the former president Moonves will pay $30.5 million as part of an agreement with the New York attorney general's office to compensate the network's shareholders, as part of an insider trading investigation and for concealing sexual assault allegations against Moonves, announced Wednesday, Nov. 2, 2022.

A spokesperson for Paramount Global, which owns CBS, said it was “pleased to resolve this matter ... without any admission of liability or wrongdoing," adding that the “matter involved alleged misconduct by CBS’s former CEO, who was terminated for cause in 2018, and does not relate in any way to the current company.”

In November 2017, a woman told police that she had been sexually assaulted by Moonves in the 1980s, before he was employed by CBS in 1995, according to the attorney general’s report. She also said she was subjected to sexual misconduct and retaliation in the workplace. The attorney general's office said it uncovered text messages between the police captain, CBS executives and Moonves that showed efforts to prevent the complaint from becoming public.

An email sent to Metrose was not immediately returned Wednesday. And an attorney representing CBS and Moonves did not immediately return a request for comment.

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