Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

CBS, Investors Reach $14.75 Million Deal in #MeToo-Linked Case

April 18, 2022, 5:06 PM

CBS Corp. investors who say the company misled them about workplace sexual misconduct ahead of former CEO Les Moonves’ ouster asked a federal judge in New York for permission to move forward with a $14.75 million settlement.

The cash deal represents 7% to 9% of “reasonably recoverable damages,” the media conglomerate’s investors said in a memo filed in support of their preliminary settlement approval bid in the U.S. District Court for the Southern District of New York.

Investors accuse CBS of making misleading statements about its company culture before sexual harassment and assault allegations against its ex-CEO became public as ...