Former CBS Corp. chairman-CEO Leslie Moonves will pursue an arbitration claim to fight CBS for the $120 million severance that he was denied last month when the company’s board of directors determined he was fired for cause.
Moonves was ousted in September after multiple women came forward with allegations of sexual misconduct against the longtime industry leader.
In a Securities and Exchange Commission filing on Thursday, CBS disclosed that Moonves has informed the company of his plan to take the board’s decision to arbitration.
“On January 16, 2019, Mr. Moonves notified the Company of his election to demand binding arbitration with respect to this matter. The Company does not intend to comment further on this matter during the pendency of the arbitration proceedings,” the filing stated.
More to come