Paramount, Former CEO Agree to $9.75 Million Payment Over CBS Shareholder Lawsuit

Former CBS chief Les Moonves and Paramount Global have agreed to pay an additional $9.75 million to resolve an investigation by the New York State Attorney General’s office.

The new settlement — $7.25 million from CBS (now under the auspices of Paramount) and another $2.5 million from Moonves — was confirmed in a letter today to the judge ruling on a shareholder lawsuit in U.S. District Court in New York. Moonves was ousted after a long tenure atop CBS after an independent law firm probe substantiated many of the claims of sexual assault and misconduct made by more than a dozen women.

Paramount acknowledged the litigation over Moonves in an SEC filing today summing up its third-quarter financial activities. (The company’s stock has tumbled today in the wake of a middling quarterly earnings report.)

Read the source article at deadline.com