Report: CBS CEO Les Moonves To Be Accused Of Sexual Harassment, CBS Stock Falls

Les Moonves

CBS is investigating claims that CEO LES MOONVES participated in "unwanted kissing and touching" while at the company, starting over 20 years ago and continuing to the recent past. The accusations are expected to be detailed in a NEW YORKER story written by RONAN FARROW, reports the HOLLYWOOD REPORTER.

“All allegations of personal misconduct are to be taken seriously," the network stated. "The Independent Directors of CBS have committed to investigating claims that violate the Company’s clear policies in that regard. Upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the Board will promptly review the findings and take appropriate action.

“The timing of this report comes in the midst of the Company’s very public legal dispute," the CBS statement continued. "While that litigation process continues, the CBS management team has the full support of the independent board members. Along with that team, we will continue to focus on creating value for our shareowners.”

MOONVES has been in heated litigation with CBS and VIACOM controlling shareholder SHARI REDSTONE, who wants to merge the two companies. CBS sued REDSTONE to prevent her from attempting to take control by ousting directors or changing bylaws. REDSTONE countersued, alleging MOONVES has no right to strip her of control of CBS.

Once word of the imminent story became public, shares of CBS stock plummeted on surging volume. As of 1p ET, the price has fallen to around $53, down over 7% for the day -- and still falling.

« see more Net News