A CBS shareholder lawsuit filed in August has been amended to accuse former CBS chairman-CEO Leslie Moonves and three other insiders of making suspect stock sales because they knew the sexual misconduct scandal that toppled Moonves was about to break.
The class-action complaint, filed in New York federal court, claims Moonves, acting CEO Joe Ianniello, CBS’ China operations chief Lawrence Liding and former communications head Gil Schwartz collectively sold 3.4 million shares between January 2017 and June 2018 that brought in more than $201 million.
The class-action complaint, filed in New York federal court, claims Moonves, acting CEO Joe Ianniello, CBS’ China operations chief Lawrence Liding and former communications head Gil Schwartz collectively sold 3.4 million shares between January 2017 and June 2018 that brought in more than $201 million.