Lawsuit for Investors in CBS Corporation (NYSE: CBS) Shares Announced by Shareholders Foundation

SAN DIEGO, CA, October 3, 2018 (Newswire.com) - / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in shares of CBS Corporation (NYSE: CBS).

Investors, who purchased shares of CBS Corporation (NYSE: CBS), have certain options and should contact the Shareholders Foundation at [email protected] or call +1 (858) 779 - 1554.

On July 27, 2018, media outlets reported that The New Yorker would shortly publish an article detailing allegations of sexual misconduct by CBS chairman and chief executive officer Leslie Moonves. That same day, CBS Corporation announced that it will investigate the allegations against Moonves, stating that "[a]ll [allegations] of personal misconduct are to be taken seriously."

On August 27, 2018, a lawsuit was filed against CBS Corporation over alleged securities laws violations. More specifically, the plaintiff claims that Defendants made false and/or misleading statements and/or failed to disclose that CBS executives, including the Company's Chairman and Chief Executive Officer, Leslie "Les" Moonves, had engaged in widespread workplace sexual harassment at CBS, that CBS's enforcement of its own purported policies was inadequate to prevent the foregoing conduct, that the foregoing conduct, when revealed, would foreseeably subject CBS to heightened legal liability and impede the ability of key CBS personnel to execute the Company's business strategy, and that as a result, CBS's public statements were materially false and misleading at all relevant times.

On September 26, 2018, CBS Corp revealed in a regulatory filing that it has retained two law firms to conduct a full investigation of the allegations in recent press reports about CBS's former Chairman and Chief Executive Officer, CBS News and cultural issues at all levels of CBS, and that CBS Corporation has received subpoenas from the New York County District Attorney's Office and the New York City Commission on Human Rights regarding the subject matter of this investigation and related matters. Furthermore CBS said that the New York State Attorney General's Office has also requested information about these matters.

Those who purchased CBS Corporation (NYSE: CBS) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: The Shareholders Foundation, Inc.

Source: Shareholders Foundation, Inc.