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Violation Tracker Individual Record

Company: Time Warner
Penalty: $25,000,000
Year: 2006
Date: December 7, 2006
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Mega-ScandalEarly 2000s Accounting Scandals
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
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.