| Company: | CBS Corporation |
| Ticker Symbol: | CBS |
| Class Period: | Feb-26-08 to Oct-10-08 |
| Date Filed: | Dec-15-08 |
| Lead Plaintiff Deadline: | Feb-13-09 |
| Court: | Southern District of New York |
| Allegations: | |
The Complaint charges that CBS and certain of its officers and directors violated federal securities laws by issuing false and misleading statements about the Company's financial condition. Specifically, defendants failed to disclose: (i) that adverse market conditions had materially impaired CBS's operations, expected cash flows and the value of its intangible assets, including goodwill; (ii) that the Company's reported goodwill and intangible assets were materially overstated; (iii) that the Company's reported equity capital was materially overstated; (iv) that, as a result of its failure to timely write down impaired intangible and goodwill assets, the Company's financial results were materially overstated; (v) that the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (vi) that the Company's balance sheet was not "pristine," "extremely strong" or "extremely healthy;" and (vii) that the Company's cash flow from operations was declining at a significant rate.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
