After the issue was raised as to whether CBS would release the findings of its ongoing investigation into allegations of sexual impropriety by deposed CEO Leslie Moonves, it appears that the company does have the right to release those findings publicly.
That’s the conclusion of a report today by Variety’s Cynthia Littleton.
“The question of whether CBS would release the findings of the investigation now under way was raised on Monday in the fine print in a Securities and Exchange Commission filing regarding the exit agreement that CBS reached with Moonves on Sunday,” Littleton reports.
The report notes: “The exit agreement contained a clause under the heading ‘Confidentiality’ that spells out CBS’ obligation to ‘seek to preserve the confidentiality of all written and oral reports by the investigators in the Internal Investigation and all information and findings developed by the investigators or included in such written or oral reports in relation to Executive (the “Investigator Information”) and not to make public such Investigator Information to the maximum extent possible consistent with fiduciary duties of directors and all applicable laws.’”
But Littleton notes that the last part of that sentence gives some leeway to the company.
“According to a source close to the situation, this language means that if CBS’ board of directors decides that releasing the findings of the investigation is in the best interest of the company and its shareholders, the board has the right to do so,” she reports, adding: “Given the outrage spurred by the allegations against Moonves, it’s probably a safe bet the board will release at least some details of the investigation now being conducted by two prominent law firms, Covington & Burling and Debevoise & Plimpton.”