Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF continues its investigation into CBS Corporation (NYSE: CBS).
Beginning in November 2017, news reports revealed claims of sexual harassment and lewd conduct by veteran CBS anchor Charlie Rose toward numerous female employees dating back decades up to 2017, which CBS executives knew of but failed to take adequate measures to prevent. In July 2018, media reports exposed sexual harassment claims against CEO Leslie Moonves for conduct spanning the 1980s and mid-2000s including forcible touching or kissing and threats of career sabotage, all largely ignored by CBS. Subsequent reports further detailed a widespread culture of sexual harassment at CBS, ignored or even suppressed by executives, including three six-figure settlements with employees.
The Company's actions, directed by its executives, have exposed it to significant litigation and expense including an ongoing securities class action lawsuit for failing to disclose material information to investors regarding the above conduct, violating federal securities laws. Recently, the lawsuit's allegations were expanded to include that Moonves and other executives had sold over 3.4 million shares of CBS stock before the claims went public, totaling over $200M in proceeds.
KSF's investigation is focusing on whether CBS officers and/or directors breached their fiduciary duties to CBS shareholders or otherwise violated state or federal laws.