CBS, Moonves must pay $30.5 million for insider trading

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CBS, Moonves must pay $30.5 million for insider trading
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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 attorney general's office, which says the network's executives conspired 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.

The captain then met personally with Moonves and another CBS executive and fed them confidential information about the investigation. The captain instructed the police officers investigating the complaint to “admonish” the woman not to go to the media with her allegations, according to the attorney general’s office.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 attorney general’s office said it uncovered text messages between the police captain, CBS executives and Moonves that showed efforts to prevent the complaint from becoming public.

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