CBS, Les Moonves must pay $30.5 million for insider trading

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CBS and its former president, Leslie Moonves, will pay $30.5 million as part of an agreement with the New York attorney general’s office.

Under the deal announced Wednesday by Attorney General Letitia James, the broadcast giant is required to pay $22 million to shareholders and another $6 million for sexual harassment and assault programs. Moonves will have to pay $2.5 million, all of which will benefit stockholders who the attorney general said were initially kept in the dark about the allegations.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.

Palka’s LinkedIn profile says he was “Incident Commander to the Academy Awards & numerous high profile events related to the entertainment industry.” Photos of Palka show the then-captain hobnobbing with stars at Hollywood Walk of Fame ceremonies and on red carpets. He was honoured in 2019 as one of the Hollywood Chamber Community Foundation’s “Heroes of Hollywood.

The document also said he wrote a separate note to Moonves saying, “I’m deeply sorry that this has happened. I will always stand with, by and pledge my allegianceArticle content “I know we haven’t talked in a while. I am a captain at LAPD Hollywood,” the police captain told Metrose in a voicemail message, according to the attorney general’s office. “Somebody walked in the station about a couple hours ago and made allegations against your boss regarding a sexual assault. It’s confidential, as you know, but call me, and I can give you some of the details and let you know what the allegation is before it goes to the media or gets out.

Palka’s LinkedIn profile says his time commanding the agency’s Hollywood Division lasted from February 2016 to August 2019.

 

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