A legal firm in the Big Apple, New York City, filed a shareholder class action lawsuit against CBS Corporation on Monday, extending Leslie Moonves’ problems even further. Following the allegations of sexual assault on the part of the CEO, investors are claiming that they have suffered financially as a result.
On the 27th of July, CBS shares decreased by approximately 6%, after the New Yorker published their report which claimed around six women sexually harassed them more than twenty years ago.
Thus far this year, their stock is down 9% and they closed on Friday for $53.10 per share. Earlier in the month, CBS hired two attorneys and former federal prosecutors, Mary Jo White and Nancy Kestenbaum, to look into the allegations of inappropriate behavior as well as the “workplace culture” at CBS.
The law firm, Pomerantz, filed the suit in the US District Court in New York on behalf of Gene R. Samit and other shareholders in the network. In a report from the Times, the publication claims that Samit paid for the stock at “artificially inflated prices.”
The complaint says that major CBS executives didn’t reveal that Moonves had “engaged in widespread workplace sexual harassment at CBS.” As it was previously reported, Moonves admitted that decades ago, he may have made “women feel uncomfortable.”
However, the CEO said he understands that “no means no,” and has never used his position ever to hurt someone else or their career. Most of the incidents in question occurred in the 1980’s and the 1990’s.
According to reports, near the ending of 2017, one woman claims Moonves forced her to perform oral sex on him in the mid-1980’s. Prosecutors weren’t able to bring charges, because the statute of limitations had expired.
During a meeting in his office in 1997, Illeana Douglas said he had “violently kissed her.”
While most men accused as a part of the #MeToo movement have gone down easily, many women have defended Leslie Moonves, including Sharon Osborne, Diane English, as well as Leslie’s wife. As you may know, Moonves’ wife is Julie Chen, one of the hosts of The Talk.