CBS and Les Moonves reach $30.5 million settlement with New York attorney general over allegations of sexual misconduct, misleading investors and insider trading

CBS and Leslie Moonves, the company's former CEO and president, reached a $30.5 million settlement Wednesday with the New York State attorney general, ending an investigation into allegations the company concealed sexual misconduct allegations against Moonves, misled investors and engaged in insider trading.

The office of Attorney General Letitia James concluded that CBS and some senior executives were aware of multiple sexual assault allegations against Moonves and "intentionally concealed those allegations from regulators, shareholders, and the public for months," according to a press release from James' office.

Investigators obtained text messages between an unnamed Los Angeles Police Department captain, Moonves and another CBS executive allegedly showing the police captain shared confidential information related to a sexual assault complaint and "status updates on the LAPD's investigation," according to James' office.