CBS To Investigate Misconduct Allegations Against CEO Leslie Moonves

(RTTNews) - CBS Corp.announced that it will investigate claims of sexual misconduct expected to be leveled against Chief Executive Officer Leslie Moonves.

On Friday, shares of CBS declined 6.12 percent to $54.01 at the close in New York.

The allegations in a forthcoming New Yorker article by Ronan Farrow involve unwanted touching and kissing incidents that go back, in part, more than 20 years, the Hollywood Reporter said, citing people with knowledge of the matter it didn't identify.

In a statement, CBS said it will take any allegations seriously and that independent directors of the company would investigate and take action if necessary.

The Independent Directors of CBS have committed to investigating claims that violate the Company's clear policies in that regard. Upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the Board will promptly review the findings and take appropriate action.

The company specified that "While that litigation process continues, the CBS management team has the full support of the independent board members. Along with that team, we will continue to focus on creating value for our shareowners".