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CBS.US
id: 279, Created by Stan Vick Chase, Scout
CBS Corporation
Settled
29 November 2017
Class period Start27 July 2018
Class period End19 September 2022
Claim deadlineConstruction Laborers Pension Trust for Southern California, et al. v. CBS Corporation.
"In general, Lead Plaintiff alleges that Defendants and former defendants Joseph R. Ianniello, Lawrence Liding, David Rhodes, David R. Andelman, Joseph A. Califino Jr., William S. Cohen, Gary L. Countryman, Charles K. Gifford, Leonard Goldberg, Bruce S. Gordon, Linda M. Griego, Robert N. Klieger, Martha L. Minow, Doug Morris and Shari Redstone (collecively, the “Former Defendants”) violated Sections 10(b) and 20(a) of the Exchange Act. More specifically, Lead Plaintiff alleges that throughout the putative class period, September 26, 2016 through December 4, 2018, inclusive, Defendants and Former Defendants made numerous materially false and misleading statements and/or failed to disclose adverse information regarding the Company’s policies and corporate governance, the importance of key personnel, including Moonves, and other statements made to news media, which caused the price of the Company’s Class B common stock to trade at artificially inflated prices, until the market learned of the false and misleading nature of the statements, and the Company’s stock price significantly declined."
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Lead plaintiff
Construction Laborers Pension Trust for Southern California
Attorney
Robbins Geller Rudman & Dowd LLP
Court
Southern District of New York
Judge
Hon. Naomi Reice Buchwald
Administrator
Gilardi & Co LLC
Court hearing date
03 November 2022
+$14,750,000
Total Settlement Amount