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CBS faces class action suit over Moonves harassment allegations

Photo: Tara Ziemba/Getty Images

CBS was hit with a class action shareholder lawsuit on Monday, which argues that the media giant made a material omission and misled shareholders when it failed to disclose sexual harassment allegations against its Chairman and CEO Leslie Moonves, Variety reports.

The context: Six women accused Moonves of sexual misconduct during the 1980s in a Ronan Farrow-authored piece in The New Yorker in July, which featured dozens of current and former CBS employees stating that Moonves' problematic behavior was well-known at the network.

Go deeper

Alayna Treene, author of Sneak Peek
13 mins ago - Politics & Policy

Bipartisan group of senators seeks coronavirus stimulus deal

Sens. Joe Manchin (D-W.V.) and Susan Collins (R-Maine). Photo: Drew Angerer/Getty Images

At least eight Republican and Democratic senators have formed a working group aimed at securing new coronavirus spending during the lame-duck session, a move favored by President-elect Biden, two sources familiar with the group tell Axios.

Why it matters: It may be the most significant bipartisan step toward COVID relief in months.

Go deeper (1 min. read)Arrow
Margaret Harding McGill
53 mins ago - Technology

FCC chairman to depart in January

FCC Chairman Ajit Pai. Photo: Alex Wong/Getty Images

Ajit Pai will leave his post as chairman of the Federal Communications Commission on Jan. 20, the agency said today.

Why it matters: Pai's Inauguration Day departure is in keeping with agency tradition, and could set up the Biden administration with a 2-1 Democratic majority at the FCC if the Senate fails to confirm another Trump nominee during the lame-duck period.

Go deeper (1 min. read)Arrow
Ben Geman, author of Generate
2 hours ago - Economy & Business

GM's shrinking deal with Nikola

Illustration: Rebecca Zisser/Axios

General Motors will no longer take an equity stake in Nikola Corp. or build its pickup truck, under a revised deal that still envisions GM as a key tech supplier for Nikola's planned line of electric and fuel cell heavy trucks.

Driving the news: The revised agreement Monday is smaller in scope than a draft partnership rolled out in September that had included a $2 billion stake in the startup and an agreement to build its Badger pickup.

Go deeper (1 min. read)Arrow

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