Violation Tracker Individual Record

Company: 
Time Warner
Current Parent Company: 
AT&T
Penalty: 
$25,000,000
Year: 
2006
Date: 
December 7, 2006
Primary Offense: 
accounting fraud or deficiencies
Violation Description: 

AOL & Time Warner jointly paid $50 million to settle allegations that they misrepresented advertising revenues and growth, thus artificially inflating the value of their stock when they were a single company. The announcement did not indicate how the cost was to be divided between the companies, so we assume it was split equally between the two.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Alaska Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Alaska
HQ Country of Parent: 
USA
HQ State of Parent: 
Texas
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
telecommunications
Specific Industry of Parent: 
telecommunications
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.