CBS, Moonves must pay $30.5 million for insider trading after sex assault allegations

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CBS, Moonves must pay $30.5 million for insider trading after sex assault allegations
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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 AG's office, which says network executives conspired with a Los Angeles police captain to conceal sexual assault allegations against Moonves.

CBS and its former president, Les 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.

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.

When the allegations ultimately became public anyway and Moonves resigned, the captain sent a note to a CBS contact saying, “We worked so hard to try to avoid this day.” The LAPD did not immediately have a comment Wednesday but a spokesperson said the agency was looking into the allegations.

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