Investigation Into CBS’ Corporate Culture
Case Type: Employment Law
Sanford Heisler Sharp is looking to speak with CBS shareholders and employees as part of an investigation into the Company’s corporate culture and governance.
In the past two years alone, allegations of sexual misconduct have emerged against former anchor Charlie Rose, former producer Jeff Fager, and former chief executive Leslie Moonves.
We would like to hear from any CBS employee who had shares in the company who may know something about Les Moonves’ actions.
The network handsomely rewarded these upper-echelon men even though they had a history of misconduct and bias against women. According to publicly filed documents, Leslie Moonves alone earned over $150 million in compensation between 2015 and 2018.
On December 18, 2018, CBS announced that it would deny Moonves $120 million in severance. However, in an SEC Form 8-K dated January 17, 2019, CBS reported that “On January 16, 2019, Mr. Moonves notified the Company [CBS] of his election to demand binding arbitration with respect to [the Company’s denial of severance payments].” According to news reports, CBS will be paying Moonves’ legal fees to pursue his $120 million severance package in arbitration.
Rose, Fager, and Moonves may have been removed from the network, but CBS has failed to fully repair the damage they caused, and in Moonves’ case, the Company is still paying him compensation, this time in the form of legal fees.
Shareholders and employees may have opportunities to take action to redress this past misconduct and reform CBS.
Contact us today to learn more about the investigation.