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On May 14, 2021, Kramer Levin client CBS Corp. announced that it has resolved an arbitration dispute with former CEO Leslie Moonves.
In January 2019, Mr. Moonves commenced a binding arbitration proceeding following a 2018 separation and settlement agreement with CBS, in which our client contributed $120 million to a grantor trust pursuant to the separation agreement, and a related investigation by the CBS board of directors which resulted in Mr. Moonves’s termination. On May 14, the parties dismissed the arbitration proceeding. The assets of the grantor trust will revert to CBS in their entirety.
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Kevin B. Leblang
Partner, Head of Employment, US, New York
Norman C. Simon
Partner, Head of Advertising Disputes, US, and Head of Class Actions, US, New York