NEW YORK, NY / ACCESSWIRE / September 11, 2018 / Shares of CBS Corporation were in the red yesterday after the company announced that it was done with its CEO Les Moonves, who has been accused of sexual harassment by a dozen women over the span of his career. Shares of Riot Blockchain were in the green despite the company announcing a new CEO because it’s former CEO has been accused by the SEC of being involved in a microcap "pump and dump" scheme with several other people.
RDI Initiates Coverage on:
Riot Blockchain, Inc.
CBS Corporation shares were in the red on Monday on higher volume than usual after the company announced that its CEO is out. CBS CEO Les Moonves will depart as chairman, president andchief executive officer "effective immediately," said the company. COO Joseph Ianniello will now act as president and acting CEO "while the Board conducts a search for a permanent successor." Moonves has been accused of sexual misconduct by 12 women. The New Yorker reporter Ronan Farrow revealed the allegations in two separate reports, with the second over the weekend revealing six more women who accuse the CEO of sexual harassment. In a statement following CBS's announcement of him leaving, Moonves denied the allegations against him and said, "Untrue allegations from decades ago are now being made against me that are not consistent with who I am," he said. "I am deeply saddened to be leaving the company. I wish nothing but the best for the organization, the newly comprised board of directors and all of its employees."
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Riot Blockchain, Inc. shares were moving higher in Monday's trading session despite a surprising piece of news from the company. Riot Blockchain, a cryptocurrency company, has named a new chief executive after the company's previous leader was accused of being involved in a securities fraud. The company announced over the weekend that Chris Ensey, its COO, would now be taking over the company. The SEC this past Friday had named former CEO John O'Rourke as one of several people who was involved in a microcap "pump and dump" scheme. A former major shareholder of the company, Barry Honig, was also named by the SEC to be involved. "Honig was the primary strategist, calling upon other Defendants to buy or sell stock, arrange for the issuance of shares, negotiate transactions, or engage in promotional activity," according to the SEC complaint. "In each scheme, Honig orchestrated his and his associates' acquisition of a large quantity of the issuer's stock at steep discounts, either by acquiring a shell and executing a reverse merger or by participating in financings on terms highly unfavorable to the company," the complaint also said. Riot Blockchain itself, was not accused of doing anything wrong. The company's chairman will now be Remo Mancini. Shares were up 4.65% yesterday.
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