{"id":433652,"date":"2022-04-18T22:25:04","date_gmt":"2022-04-18T19:25:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/cbs-settles-shareholder-metoo-suit-for-14-75m\/"},"modified":"2022-04-18T22:25:04","modified_gmt":"2022-04-18T19:25:04","slug":"cbs-settles-shareholder-metoo-suit-for-14-75m","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/cbs-settles-shareholder-metoo-suit-for-14-75m\/","title":{"rendered":"#CBS settles shareholder #MeToo suit for $14.75M"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f9bab561d3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f9bab561d3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/cbs-settles-shareholder-metoo-suit-for-14-75m\/#%E2%80%9CCBS_settles_shareholder_MeToo_suit_for_1475M%E2%80%9D\" >&#8220;CBS settles shareholder #MeToo suit for $14.75M&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CCBS_settles_shareholder_MeToo_suit_for_1475M%E2%80%9D\"><\/span>&#8220;CBS settles shareholder #MeToo suit for $14.75M&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>CBS parent Paramount Global has agreed to pay $14.75 million to shareholders who claimed that the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> giant\u2019s failure to disclose sexual misconduct allegations against former CEO Les\u00a0Moonves\u00a0\u201cartificially inflated\u201d the value of its stock.<\/p>\n<p>According to<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/media-telecom\/paramount-moonves-settle-cbs-shareholder-metoo-class-action-1475-mln-2022-04-18\/\"> Reuters<\/a>, lawyers for Paramount Global,\u00a0Moonves\u00a0and the plaintiffs filed a proposed settlement agreement in Manhattan federal court on Friday. CBS and\u00a0Moonves\u00a0have denied that they misled investors.<\/p>\n<p>In 2018, at the height of the #MeToo movement, Moonves was accused by more than a dozen women of sexual misconduct, including exposing himself and pressuring women for sex. <\/p>\n<p>Although the former CEO has denied wrongdoing and said the relationships were consensual, he was ousted from CBS in September 2018. <\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/PARAMOUNT-12.jpg?w=1024\" alt=\"Les Moonves\" class=\"wp-image-21944743\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/PARAMOUNT-12.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/PARAMOUNT-12.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/PARAMOUNT-12.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Les Moonves and CBS were accused by CBS shareholders of misleading investors and not disclosing sexual misconduct claims against the CEO. <\/figcaption><figcaption><span class=\"credit\">WireImage<\/span><\/figcaption><\/figure>\n<p>Two months later, CBS said it had fired him for cause and denied a $120 million severance package, following a board review of the findings of an investigation into\u00a0Moonves\u2019 conduct and the network\u2019s culture led by two law firms hired by CBS.<\/p>\n<p>CBS and lawyers for\u00a0Moonves\u00a0did not immediately respond to requests for comment, nor did the plaintiffs\u2019 lawyers at Robbins Geller Rudman &amp; Dowd, Reuters said.<\/p>\n<p>In 2018, a group of CBS shareholders filed a class-action lawsuit accusing CBS and\u00a0Moonves\u00a0of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.hollywoodreporter.com\/business\/business-news\/judge-allows-cbs-shareholder-lawsuit-because-les-moonves-misleading-metoo-statement-1270277\/\">misleading investors<\/a> by not initially disclosing claims against the CEO and making public statements in support of #MeToo.<\/p>\n<p>For example, according to Reuters, Moonves\u00a0at a 2017 industry conference called #MeToo \u201ca watershed moment\u201d and said, \u201cI think it\u2019s important that a company\u2019s culture will not allow for this \u2026 There\u2019s a lot we didn\u2019t know.\u201d<\/p>\n<p>In 2020, US District Judge Valerie Caproni in Manhattan found that statement was the only one cited by the plaintiffs that could have misled investors, and she dismissed all other claims.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/PARAMOUNT-11.jpg?w=1024\" alt=\"Paramount Studios sign\" class=\"wp-image-21944774\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/PARAMOUNT-11.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/PARAMOUNT-11.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/PARAMOUNT-11.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>ViacomCBS was renamed Paramount Global, after the company\u2019s famed Hollywood studio, Paramount Pictures.<\/figcaption><figcaption><span class=\"credit\">LightRocket via Getty Images<\/span><\/figcaption><\/figure>\n<p>Around the time of the suit, there was much buzz that CBS was set to merge with sister company Viacom. That deal was announced in August 2019 and closed in December, creating ViacomCBS, home to Paramount Pictures, MTV, CBS and Showtime. The media conglomerate was renamed Paramount Global in February.<\/p>\n<p><em>With Post wires<\/em>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/04\/18\/cbs-settles-shareholder-metoo-suit-for-14-75m\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;CBS settles shareholder #MeToo suit for $14.75M&#8221; CBS parent Paramount Global has agreed to pay $14.75 million to shareholders who claimed that the media giant\u2019s failure to disclose sexual misconduct allegations against former CEO Les\u00a0Moonves\u00a0\u201cartificially inflated\u201d the value of its stock. According to Reuters, lawyers for Paramount Global,\u00a0Moonves\u00a0and the plaintiffs filed a proposed settlement agreement&#8230;<\/p>\n","protected":false},"author":1,"featured_media":433653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/paramount.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[72567,128146,2443,74420,90997,26257],"class_list":["post-433652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-metoo","tag-4-18-22","tag-cbs","tag-class-action-lawsuits","tag-les-moonves","tag-paramount"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=433652"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/433653"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=433652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=433652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=433652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}