WASHINGTON, DC - SEPTEMBER 1: (L-R) Julie Chen and Les Moonves, chief executive officer of CBS Corporation, arrive at the Washington National Cathedral for the funeral service for the late Senator John McCain, September 1, 2018 in Washington, DC. Former presidents Barack Obama and George W. Bush are set to deliver eulogies for McCain in front of the 2,500 invited guests. McCain will be buried on Sunday at the U.S. Naval Academy Cemetery. (Photo by Drew Angerer/Getty Images)
Drew Angerer/Getty Images/FILE
WASHINGTON, DC - SEPTEMBER 1: (L-R) Julie Chen and Les Moonves, chief executive officer of CBS Corporation, arrive at the Washington National Cathedral for the funeral service for the late Senator John McCain, September 1, 2018 in Washington, DC. Former presidents Barack Obama and George W. Bush are set to deliver eulogies for McCain in front of the 2,500 invited guests. McCain will be buried on Sunday at the U.S. Naval Academy Cemetery. (Photo by Drew Angerer/Getty Images)
Now playing
02:21
NYT exposes alleged Les Moonves sexual assault cover-up
Now playing
04:56
How these startups are tackling high drug costs in the US
WASHINGTON, DC - MARCH 09: Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition March 9, 2020 in Washington, DC. Musk answered a range of questions relating to SpaceX projects during his appearance at the conference. (Photo by Win McNamee/Getty Images)
Win McNamee/Getty Images
WASHINGTON, DC - MARCH 09: Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition March 9, 2020 in Washington, DC. Musk answered a range of questions relating to SpaceX projects during his appearance at the conference. (Photo by Win McNamee/Getty Images)
Now playing
04:19
Bitcoin and crypto's 'Elon Musk problem'
Now playing
02:29
'Outrageous' used car prices amid highest inflation in 13 years
jeff bezos blue origin space launch cooper intv sot vpx_00021804.png
jeff bezos blue origin space launch cooper intv sot vpx_00021804.png
Now playing
03:05
Jeff Bezos reveals most surprising part of space mission
CNN
Now playing
03:05
These moms explain how child tax credit checks will help them
CNN/John General/Atom Smasher
Now playing
04:04
Here's everything you need to know about ransomware
Now playing
04:04
Subway CEO on menu changes: The one thing we did not touch is our tuna
Now playing
02:40
Gretchen Carlson tells Anderson about the bipartisan bill she's backing to help workers
Rachael Flores
Now playing
02:22
Employees go viral after resigning via Burger King sign
Virgin Galactic
Now playing
02:05
Richard Branson lands safely after rocketing to outer space
CNN/Shutterstock
Now playing
02:20
Prices are going up on almost everything. Here's why
A car drives by a Speedway gas station next to the Shell refinery on March 03, 2021 in Martinez, California. Gas prices have increased across the United States to a national average of $2.72 per gallon, an increase of 30 cents from one month ago. Gas in California has an average price of $3.68 per gallon, the highest in the nation.  (Photo by Justin Sullivan/Getty Images)
Justin Sullivan/Getty Images
A car drives by a Speedway gas station next to the Shell refinery on March 03, 2021 in Martinez, California. Gas prices have increased across the United States to a national average of $2.72 per gallon, an increase of 30 cents from one month ago. Gas in California has an average price of $3.68 per gallon, the highest in the nation. (Photo by Justin Sullivan/Getty Images)
Now playing
04:01
Gas prices are high. Here's why
Now playing
02:46
The US needs construction workers
BetterUp CEO Alexi Robichaux workplace mental health orig_00023111.png
BetterUp CEO Alexi Robichaux workplace mental health orig_00023111.png
Now playing
03:06
This CEO says leaders need to focus on mental health to boost productivity at work
A driver uses the Didi Chuxing ride-hailing app on his smartphone while driving along the street in Beijing on July 2, 2021. (Photo by Jade GAO / AFP) (Photo by JADE GAO/AFP via Getty Images)
Jade Gao/AFP/Getty Images
A driver uses the Didi Chuxing ride-hailing app on his smartphone while driving along the street in Beijing on July 2, 2021. (Photo by Jade GAO / AFP) (Photo by JADE GAO/AFP via Getty Images)
Now playing
02:13
Didi shares plummet after China bans it from app stores
New York CNN Business —  

The two law firms that were hired by the CBS board of directors to investigate alleged misconduct apparently found a ton of it.

The New York Times, which has been publishing a series of explosive stories about ousted CBS CEO Les Moonves, says it has reviewed a 59-page draft report with the lawyers’ findings about Moonves.

“Based on the facts developed to date, we believe that the board would have multiple bases upon which to conclude that the company was entitled to terminate Moonves for cause,” the report says, according to The Times.

That would deny Moonves access to $120 million in severance that was set aside for him when he stepped down under pressure in September.

The legal report seen by the newspaper was a draft, so it could change before the full board of directors reads it. CNN has not reviewed the report. But the depictions in the Times of both sexual misconduct and corporate misconduct are damning.

Moonves, one of the most celebrated executives in Hollywood history, was accused of sexual harassment and assault by numerous women in a pair of stories by The New Yorker’s Ronan Farrow over the summer.

Since then, even more allegations have come to light, most recently in a Times story last week. The Times, citing text messages and other evidence, recounted how Moonves tried to keep an accuser silent by arranging possible jobs for her at CBS.

The fall of Moonves is a tale “about how people use every lever at their disposal to protect themselves,” Times reporter Rachel Abrams told CNN.

Tuesday night’s newest story, by Abrams and Edmund Lee, said that Moonves was required under the terms of his employment contract to cooperate fully with the probe by the law firms — Covington & Burling and Debevoise & Plimpton. But, the Times story says, he “destroyed evidence and misled investigators in an attempt to preserve his reputation and save a lucrative severance deal, according to a draft of a report prepared for the company’s board.”

A lawyer for Moonves told the newspaper that Moonves “cooperated extensively and fully with investigators.”

But the law firms found evidence to the contrary. For example, Moonves “handed over his son’s iPad instead of his own,” in an apparent bid to conceal damaging text messages, The Times reported.

Moonves’ lawyer also said his client “denies having any nonconsensual sexual relation,” while acknowledging some incidents that he says were consensual.

But the report by the law firms, as quoted by The Times, said Moonves “engaged in multiple acts of serious nonconsensual sexual misconduct in and outside of the workplace” both before and after he joined CBS in 1995.

Moonves’s lawyer did not immediately respond to CNN’s request for comment.

And a spokesman for the CBS Corporation declined to comment on the new reporting. The company is scheduled to hold its annual meeting next Tuesday, December 11, and The Times says the law firms will officially present their findings to the board sometime before then.

When reached for comment on Tuesday night, a spokesman for the CBS board of directors shared a statement from the investigators.

“No findings have been reported to the board,” the statement said. “The board has reached no conclusions on this matter. The investigators and the board are committed to a thorough and fair process.”

James B. Stewart, a member of the Times reporting team and a business columnist for the newspaper, wrote on Tuesday night that the law firms’ report shows an “epic failure of corporate governance.”

In recent months the CBS board and the upper management ranks have been reshaped, in large part by controlling shareholder Shari Redstone and interim CEO Joe Ianniello.