By Lynette Rice
July 27, 2018 at 01:40 PM EDT

UPDATED: One of Hollywood’s most powerful executives is facing allegations of misconduct in a soon-to-be-released article from The New Yorker. 

Before the story from Ronan Farrow had even been published, word leaked that CBS CEO Leslie Moonves has been accused of unwanted physical attention in incidents that happened more than two decades ago.

Antoine Antoniol/Getty Images

In response, CBS released a statement without naming the 68-year-old chairman, saying it was committed to “investigating claims that violate the Company’s clear policies in that regard.”

“Upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the Board will promptly review the findings and take appropriate action,” according to a statement from the company’s independent board of directors that was obtained by EW. “The timing of this report comes in the midst of the company’s very public legal dispute. While that litigation process continues, the CBS management team has the full support of the independent board members. Along with that team, we will continue to focus on creating value for our shareowners.”

That prompted Farrow to release a statement of his own.

Moonves, who is not commenting on the matter, is currently in a legal dispute with CBS/Viacom’s controlling shareholder Shari Redstone over a proposed merger of the two companies. CBS stock reportedly took a hit after news of the impending New Yorker article was published.

Today’s episode of The Talk, which is co-hosted by Moonves’ wife Julie Chen, was pre-taped.

The story in The New Yorker is also expected to address the numerous allegations of sexual misconduct that led to the firing of CBS This Morning co-anchor Charlie Rose in November.

More to come…