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Leslie Moonves is going to arbitration with CBS over his $120 million exit package
Source: CNBC
Leslie Moonves is going to arbitration with CBS over his $120 million exit package
• Former CBS CEO Leslie Moonves is bringing his case against CBS to binding arbitration after being denied his $120 million exit package, according to a new SEC filing by CBS.
• Moonves resigned last year after being accused of a dozen women of sexual misconduct.
• CBS denied Moonves his exit package after an investigation for the CBS board concluded there were just grounds for his termination.
Lauren Feiner
Published 4 Hours Ago Updated 4 Hours Ago
Former CBS CEO Leslie Moonves is bringing his case against CBS to binding arbitration, the company said in an SEC filing Wednesday. Moonves believes he was wrongfully terminated although a CBS board investigation concluded there were grounds to fire him for cause.
CBS said last month it found grounds for firing Moonves and would not be paying him any of a potential $120 million exit package. The filing said Moonves had the right to take the case to arbitration if he disputed the board's decision. CBS said in the filing it does not plan to comment further during the arbitration process.
Last year, a dozen women came forward alleging Moonves engaged in sexual misconduct. Moonves resigned his role in September amidst the backlash, although he denies the accusations of nonconsensual sexual relations.
But investigators for the CBS board said Moonves misled them and destroyed evidence, according to a version of the report prepared for the board and viewed and reported by The New York Times. Moonves' attorney, Andrew Levander, told the Times that Moonves "cooperated extensively and fully with investigators."
-snip-
• Former CBS CEO Leslie Moonves is bringing his case against CBS to binding arbitration after being denied his $120 million exit package, according to a new SEC filing by CBS.
• Moonves resigned last year after being accused of a dozen women of sexual misconduct.
• CBS denied Moonves his exit package after an investigation for the CBS board concluded there were just grounds for his termination.
Lauren Feiner
Published 4 Hours Ago Updated 4 Hours Ago
Former CBS CEO Leslie Moonves is bringing his case against CBS to binding arbitration, the company said in an SEC filing Wednesday. Moonves believes he was wrongfully terminated although a CBS board investigation concluded there were grounds to fire him for cause.
CBS said last month it found grounds for firing Moonves and would not be paying him any of a potential $120 million exit package. The filing said Moonves had the right to take the case to arbitration if he disputed the board's decision. CBS said in the filing it does not plan to comment further during the arbitration process.
Last year, a dozen women came forward alleging Moonves engaged in sexual misconduct. Moonves resigned his role in September amidst the backlash, although he denies the accusations of nonconsensual sexual relations.
But investigators for the CBS board said Moonves misled them and destroyed evidence, according to a version of the report prepared for the board and viewed and reported by The New York Times. Moonves' attorney, Andrew Levander, told the Times that Moonves "cooperated extensively and fully with investigators."
-snip-
Read more: https://www.cnbc.com/2019/01/17/moonves-going-to-arbitration-with-cbs-over-120-million-exit-package.html