NEW YORK–(BUSINESS WIRE)–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, click
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 email@example.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.
The court-appointed lead plaintiff is the investor with the largest
financial interest in the relief sought by the class who is adequate and
typical of class members who directs and oversees the litigation on
behalf of the putative class. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their choice, or
may choose to do nothing and remain an absent class member. Your ability
to share in any recovery is not affected by the decision to serve as a
lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding
CBS’s conduct to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect
to any future matter. We welcome the opportunity to discuss your
particular case. All communications will be treated in a confidential
Faruqi & Faruqi, LLP
685 Third Avenue, 26th Floor
York, NY 10017
Attn: Richard Gonnello, Esq.
(877) 247-4292 or (212) 983-9330