Feeds

Time Warner settles AOL SEC fraud investigation

Coughs up $300m

  • alert
  • submit to reddit

3 Big data security analytics techniques

Time Warner has finally settled a long running investigation by the US' Securities and Exchange Commission (SEC) amid claims that AOL inflated its ad earning revenue in the early part of the decade.

Details of the settlement for Time Warner's AOL internet division had already been trailed in December. Yesterday's announcement by the SEC draws a line under the affair and should enable media giant Time Warner to leave this part of its recent history behind.

In a statement the SEC said: "The Commission today charged Time Warner Inc. with securities fraud for materially overstating online advertising revenue and the number of its Internet subscribers and aiding and abetting three other securities frauds.

"Without admitting or denying the allegations in the complaint, Time Warner consented to the entry of a judgement that, among other things, orders it to pay $300m in civil penalties," it said.

Some industry watchers reckon the settlement could pave the way for Time Warner to flog AOL. ®

Related stories

Time Warner squares AOL fraud claims with $510m settlement
AOL loses 2m US customers
AOL future uncertain report

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Ex–Apple CEO John Sculley: Ousting Steve Jobs 'was a mistake'
Twenty-nine years later, post-Pepsi exec has flat-forehead moment
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.