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CBS shares fall on news of exposé alleging sexual misconduct by CEO Les Moonves

Proactive Investors Friday, 27 July 2018
Shares of media giant CBS Corporation (NYSE:CBS) are sinking on news that its CEO is accused of sexual misconduct. Chief Executive Leslie Moonves will be the subject of an upcoming Ronan Farrow piece in The New Yorker, as per a CNBC report. Farrow is the Pulitzer Prize-winning journalist behind the Harvey Weinstein exposé that spurred the #MeToo movement. The article claims that Moonves was involved in inappropriate and unwanted sexual behavior in events that date back 20 years. Shares of CBS were down more than 7% to US$53.30 in Friday afternoon trading.
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News video: CBS Board To Conduct Investigation On Sexual Misconduct Allegations Against Les Moonves

▶ CBS Board To Conduct Investigation On Sexual Misconduct Allegations Against Les Moonves 00:32

CBS Corporation is investigating CEO Les Moonves for allegations of sexual misconduct. The directors of the company are discussing whether to make him step down as CEO or not. According to SFGate, the directors will select a committee to oversee and investigation. Not only that, but they will also...

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