CBS and its former president must pay 30.5 million dollars for insider trading

Then-CBS president Leslie Moonves attends the CBS Network 2015 Programming Upfront at The Tent at Lincoln Center on May 13, 2015, in New York. CBS and the former president Moonves will pay $30.5 million as part of an agreement with the New York attorney general’s office to compensate the network’s shareholders, as part of an insider trading investigation and for concealing sexual assault allegations against Moonves, announced on November 2, 2022 (Evan Agostini/Invision/AP/PA)

CBS and its former president, Leslie Moonves, will pay 30.5 million dollars (£26.8 million) as part of an agreement with the New York attorney general’s office to compensate the network’s shareholders, as part of an insider trading investigation and for concealing sexual assault allegations against Mr Moonves.

The broadcast giant is required to pay 22 million dollars (£19.3 million) to shareholders and another six million dollars (£5.2 million) for sexual harassment and assault programmes.