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Les Moonves, president and chief executive officer of CBS Corp., right, steps out from a car as he arrives for the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on Tuesday, July 11, 2017. Photo: Featureflash Photo Agency/Shutterstock.com

CBS’ announcement that it would deny Les Moonves $120 million in severance pay tamped down the prospects for shareholder litigation stemming from the company’s handling of sexual harassment allegations against its ousted CEO, but the media giant may not be out of the woods just yet, attorneys said Tuesday.

There remains the possibility that Moonves, who has been accused of forcing himself on women and retaliating against those who rebuffed his advances, could sue CBS to recover his “golden parachute.” And the company also faces the potential for shareholder suits targeting the board over its supposed failure to prevent a crisis that has dominated headlines for months.

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Tom McParland

Tom McParland of New York Law Journal can be contacted at [email protected] Follow him on Twitter @TMcParlandALM.

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