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CBS Corporation (CBS)

NYSE:CBS

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In CBS Corporation To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in CBS Corporation (“CBS” or the “Company”) (NYSE:CBS) of the October 26, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in CBS stock or options between February 14, 2014 and July 27, 2018 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased CBS securities between February 14, 2014 and July 27, 2018 (the “Class Period”).  The case, Samit v. CBS Corporation, et al., No. 18-cv-07796 was filed on August 27, 2018.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) CBS executives, including the Company’s Chairman and Chief Executive Officer (“CEO”), Defendant Leslie “Les” Moonves (“Moonves”), had engaged in widespread workplace sexual harassment at CBS; (2) CBS’s enforcement of its own purported policies was inadequate to prevent the foregoing conduct; and (3) 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.
Specifically, on July 27, 2018, various media outlets reported that The New Yorker would shortly publish an article regarding an investigative report detailing allegations of sexual misconduct by Moonves and other executives at the Company.

On this news, the Company’s stock price fell from $57.53 on July 26, 2018 to $54.01 on July 27, 2018—a $3.52 or 6.12% drop.

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  • Case:
    CBS Corporation (CBS)
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Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 08/27/2018

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