CBS and Moonves to Pay $30.5 Million to Resolve Assault Claims

Paramount Global’s CBS unit and former chief executive officer Les Moonves agreed to pay a total of $30.5 million to resolve allegations that the company hid sexual assault allegations against the veteran executive.

CBS will pay $28 million, with $22 million going to shareholders and $6 million to improve methods for reporting and investigating complaints of sexual harassment and assault, New York Attorney General Letitia James said in a statement. Moonves will pay investors $2.5 million.

Under the agreement, CBS will reform its anti-sexual-harassment practices and provide reports to James’s office. Every stock trade by a senior executive ...