CBS Stockholder Lawsuit Based on Allegations of Sexual Misconduct

A CBS stockholder lawsuit has been initiated based on allegations of sexual misconduct associated with CEO Leslie Moonves. The CBS stockholder lawsuit claims that the alleged sexual misconduct carried out by the CEO has harmed investors.

On July 27, the same day the New Yorker published an investigative report including accusations from six different women who reported sexual harassment carried out by Leslie Moonves, CBS share prices dropped by six percent. The CBS stockholder lawsuit alleges that the company is responsible for allowing this serious harm and damage to affect their investments.

Overall, the CBS stock has decreased by nine percent this year. Earlier this month, CBS board members hired former federal prosecutors and two attorneys to investigate allegations of inappropriate behavior lodged against the CEO, Leslie Moonves. Results of that investigation could be relevant to the lawsuits and concerns over the workplace culture at CBS. The investigation is ongoing, but shareholders who believe they were lied to have chosen to take action with a lawsuit.

Companies that have an obligation to stockholders might find themselves in the midst of a legal case if shareholders can demonstrate that the company was negligent or misleading. Those shareholders who make these important investments can be shocked to realize that unethical or illegal behavior has occurred. This kind of behavior might ultimately damage the value of the stock both at the current time and in the future.

Amidst the evolving #metoo movement and growing numbers of victims coming forward to report sexual harassment or assault, shareholders of companies that have leaders and employees named in these claims may be concerned about the worth of their investment and their legal rights.

According to the complaint filed in the CBS stockholder lawsuit, CBS shares were purchased at artificially inflated prices. The CBS stockholder lawsuit alleges that senior executives at CBS made misleading or false statements in filings submitted to the Securities and Exchange Commission, due to omissions regarding the sexual harassment allegations against Moonves. Furthermore, the CBS stockholder lawsuit says that policies at the organization to prevent and investigate this misconduct were inadequate.

The CBS stockholder lawsuit seeks to represent a Class of CBS shareholders who owned their shares between Feb. 14, 2014 through July 27, 2018. The CEO of CBS who has been accused in these allegations has acknowledged that he may have made women uncomfortable by making advances toward them in the past.

The report published in the New Yorker that likely prompted the CBS stockholder lawsuit includes claims made by multiple other women who claimed that Moonves inappropriately attacked them during meetings during his tenure working for CBS.

The CBS shareholder lawsuit requests unspecified damages, attorney fees, and a jury trial. If you are a current CBS shareholder and have questions about whether or not you can participate in a class action lawsuit investigation, consider speaking with an attorney. Many people could be affected by this CBS shareholder lawsuit.

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Current CBS shareholders, especially those who have held shares for four years or more, may be eligible for compensation if their stocks took a hit around the time the Les Moonves sexual misconduct allegations were made public.

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