NEW YORK (AP) — CBS says independent members of its board of directors are investigating personal misconduct claims after reports that the company’s chief executive, Les Moonves, is the subject of an upcoming New Yorker story detailing sexual misconduct allegations.
The media company says it takes all allegations of personal misconduct seriously. It says the independent directors are “investigating claims that violate the company’s clear policies in that regard.”
CBS did not name Moonves but said it issued the statement Friday in response to the upcoming New Yorker article.
Shares in CBS tumbled when the reports of the misconduct allegations began to circulate around noon Friday, as investors worried that Moonves might be forced to step down. They closed down 6 percent, the company’s worst one-day loss in more than six years.
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