CBS and former CEO Les Moonves to pay $30.5m over claims they hid sexual assault allegations

CBS and former CEO Les Moonves are set to pay $30.5m to resolve claims they hid sexual assault allegations against the executive and for alleged insider trading.

New York Attorney General Letitia James announced that an investigation by her office had found that the media company and its senior leadership knew about multiple allegations made against Mr Moonves.

And Ms James said in a statement on Wednesday that they had “intentionally concealed those allegations from regulators, shareholders, and the public for months.”

Investigators also discovered that a senior executive at CBS who knew about the allegations sold millions of dollars of CBS stock just weeks before the claims became public.