Time Warner Settles 2 Cases Over AOL Unit
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The Justice Department announced yesterday that it would defer bringing criminal securities fraud charges against the America Online unit of Time Warner as long as Time Warner adopted
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WASHINGTON - Time Warner Inc. agreed Wednesday to pay $210 million to settle criminal securities-fraud charges brought by the Justice Department against the company&#39;s America Online unit.
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AOL has agreed to pay $3 million in fines to the states plus refunds to customers charged for unauthorized services.
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Although the specter of a criminal prosecution of Time Warner Inc. all but vanished with yesterday&#39;s Justice Department settlement, the company&#39;s tentative $300 million agreement to settle
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Time Warner Inc., the world's largest media company, won approval yesterday of a settlement of an investor lawsuit that a judge says will require the company to make changes in how it governs itself.
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Time Warner Inc. agreed Wednesday to pay $210 million to settle criminal securities fraud charges brought by the Justice Department against the company&#39;s America Online unit.
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Time Warner, the world&#39;s largest media-entertainment company, says it has agreed to pay a total of $US510 million ($668 million) to resolve federal probes into accounting irregularities at its America Online (AOL) units.
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(InfoWorld) - AOL will pay more than $3 million to settle complaints that it charged customers for unauthorized services. The settlement money will go to 48 states and the District of Columbia, which plan to use the money in various ways, typically for consumer education and to fund consumer-fraud investigations. In addition to the $3 million, AOL agreed to offer refunds to consumers who complain to the company or through the offices of states' attorneys general. AOL must refund consumers who complain of unauthorized charges for services, the states say. AOL also agreed to improve the way that customers can cancel their services. Previously, most customers could only cancel their service by calling AOL. But AOL customer service representatives received incentives for retaining customers. As a result, many customers complained that it was very difficult and in some cases impossible to cancel their service, according to the Arkansas attorney general's office. In Illinois, customers who tried to cancel their services were often offered a free month of service as an incentive to stick with AOL, said that state's attorney general office. After the free month, customers would try again to cancel but customer care representatives would pressure them to stay. Some consumers said that they thought they'd cancelled their service only to continue receiving bills for the service. To address the problem,Â AOL set up an Internet siteÂ that customers can use to cancel their service. In addition, when customers cancel, AOL must clearly disclose the amount of time remaining on the account and provide a confirmation number showing that the customer cancelled the service. AOL made many of the changes during 2005 and 2006 on a voluntary basis nationwide, said AOL spokeswoman Amy Call. The settlement "puts to rest any remaining issues related to our old access business model," she said in a statement. Many customers may have recently begun trying to cancel their service because AOL is in the midst of a business transition. It now offers free e-mail services and grants anyone access to its portal, in hopes of earning revenue from advertisements. AOL still offers dial-up Internet access and a tech support service for a fee.
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Time Warner Inc., the world&#39;s biggest media company, agreed to pay $210 million to settle a US Justice Department probe into whether its America Online unit improperly booked advertising sales.
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Time Warner will announce a settlement with the Department of Justice and a proposed settlement with the Securities and Exchange Commission, a source familiar with the situation said Wednesday.
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Time Warner is close to settling a Securities and Exchange Commission investigation into accounting at America Online, a person close to the negotiations said yesterday.
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AOL accounts facTime Warner has finalised a deal with Federal authorities over fraud allegations against its AOL subsidiary. Under the terms of the deals, Time Warner will pay fines totalling some $510mn and
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SAN FRANCISCO -- Averting a looming court battle over how it has handled the exodus from its Internet dial-up service, AOL has agreed to make it easier for its remaining customers to leave as part of a $3 million settlement with 48 states and the District of Columbia.
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America Online Inc. and Time Warner Cable finally overcame their differences yesterday, putting in place a partnership to connect computer users to the Internet that was cited five years ago as a key reason for the &#36;112 billion America Online-Time Warner Inc. merger.
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TIME WARNER has agreed to pay $US210 million to settle fraud charges against the company&#39;s America Online unit, US law enforcement officials said overnight.
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Is 2004 the year Time Warner settled down?
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Time Warner Inc. has agreed to pay more than $500 million to settle allegations that its America Online division improperly pumped up revenue and engaged in other unlawful practices before and after the two companies merged.-The Washington Post