Harassment: CBS and ex-boss Leslie Moonves have to pay $ 30 million

US television network

and former boss

reached a $ 30.5 million settlement with the New York Attorney General's office over multiple allegations of sexual misconduct and insider trading.    

"As a result of today's agreement, CBS is required to pay

, of which $ 22 million will go back to CBS shareholders and $ 6 million will go towards strengthening the reporting and investigation mechanisms for sexual harassment and assault complaints." New York Attorney General Letitia James said in a statement.    

Moonves, the former CEO of Paramount-owned CBS, who was ousted in September 2018 after allegations of sexual misconduct, has to pay $ 2.5 million to the network's shareholders.

According to James's office, "CBS and its top management were aware of multiple sexual assault allegations made against Mr. Moonves and have intentionally hidden those allegations from regulators, shareholders and the public for months." 

Additionally, "another CBS executive - one of the few people aware of the allegations - sold millions of dollars worth of CBS stock in the weeks leading up to the allegations."    

Twelve women have accused Moonves of sexual harassment and assault in two articles published in July and September 2018 in The New Yorker magazine.

James said a LAPD captain informed a CBS executive as early as November 2017 that a victim had filed a complaint against Leslie Moonves.

The information would then be shared with other network executives.    

In a statement to the US media, Paramount said it was "pleased" that the matter was resolved without any admission of wrongdoing.

"The issue concerned the alleged misconduct of the former CBS CEO, who was fired for just cause in 2018, and in no way affects the current company," the company said.