LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In CBS Corporation to Contact The Firm
NEW YORK--(BUSINESS WIRE)--Oct 4, 2018--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 here:www.faruqilaw.com/CBS. 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 .
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.
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CONTACT: Faruqi & Faruqi, LLP
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Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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SOURCE: Faruqi & Faruqi, LLP
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PUB: 10/04/2018 06:34 PM/DISC: 10/04/2018 06:34 PM