Sunday, March 20, 2005

Time Warner Pays $300 million to Settle SEC Case

Time Warner will pay a $300 million penalty to settle civil fraud charges brought by the Securities and Exchange Commission (SEC) over its past accounting. Under the settlement approved by the SEC commissioners, Time Warner agreed , without admitting or denying any wrongdoing, to restate three years of financial results, to be enjoined from future violations of certain provisions of the securities laws, and to comply with a prior SEC cease-and-desist order issued to AOL in May 2000.
http://www.timewarner.com

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