CBS looks into misconduct claims amid report on CEO Moonves
NEW YORK (AP) — CBS said Friday that independent members of its board of directors are investigating personal misconduct claims after reports that the company's chief executive, Les Moonves, was the subject of an upcoming New Yorker story detailing sexual misconduct allegations.
The media company said it takes all allegations of personal misconduct seriously. It said the independent directors are "investigating claims that violate the company's clear policies in that regard."
CBS's stock fell 6 percent — its worst one-day loss in nearly seven years — as the reports of the misconduct allegations began to circulate around noon Friday, triggering investor concerns Moonves might be forced to step down.