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Paramount and former CBS chief Les Moonves have agreed to pay $30.5 million to settle allegations of insider trading and sexual harassment.
The settlement, announced by the New York attorney general Wednesday, comes after the office’s Investor Protection Bureau found CBS executives concealed allegations that Mr. Moonves sexually abused multiple women in the 1980s and 1990s.
Investigators also found that a senior executive at CBS who knew about the allegations sold millions of dollars of company stock in the weeks before they became public in 2018.
“After trying to bury the truth to protect their fortunes, today CBS and Leslie Moonves are paying millions of dollars for their wrongdoing,” Attorney General Laetitia James said in a statement. “Today’s action should send a strong message to companies across New York that profiting off injustice will not be tolerated and those who violate the law will be held accountable.
