Time Warner settles AOL fraud charges for $210M
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Time Warner Inc. will pay $210 million to settle charges that its America Online unit fraudulently inflated its revenue figures. Separately, it is expected to pay about $300 million to settle SEC charges related to its buyout of a stake held by Germany's Bertelsmann AG in AOL Europe.
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Media company Time Warner Inc. has  agreed to pay the U.S. government $210 million to settle  charges that its America Online unit fraudulently inflated its  revenue figures, court documents showed on Wednesday.
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Time Warner Inc. (TWX.N: Quote, Profile, Research) on Wednesday said it agreed to pay $510 million to the US government to resolve criminal and civil charges linked to its America Online unit.
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Time Warner Inc. is giving up its foothold in one of the fastest-growing markets for broadband Internet access with a deal to sell AOL Germany's Internet access business to Telecom Italia SpA for about $870 million.
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Time Warner Inc. agreed yesterday to pay $210 million to settle criminal securities fraud charges brought by the Justice Department against the company's America Online unit. The media giant also is prepared to pay $300 million to end another probe by the Securities and Exchange Commission.
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Time Warner Inc. plans to take a  pretax charge of about $60 million in the current fourth  quarter for severance costs stemming from job cuts at its  America Online unit, the company said in a securities filing on  Friday.
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Qwest Communications has agreed to pay $250 million to settle a wide-ranging fraud investigation by the Securities and Exchange Commission, The Associated Press has learned.
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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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The U.S. government will charge Time  Warner Inc's TWX.N America Online unit with aiding and  abetting securities fraud but will defer prosecution for two  years, a U.S. Justice Department official said.
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Time Warner Inc. said on Wednesday it agreed to pay the US government $510 million to resolve criminal and civil charges that its America Online
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Time Warner and its AOL subsidiary have reached a settlement with the US Department of Justice (DOJ) that ends an investigation of the company over accounting and disclosure practices.
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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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Time Warner Inc. said yesterday that it is creating a $500 million reserve in response to the federal investigations of its America Online unit and that it also will restate AOL Europe&#39;s financial results for 2000 and 2001.
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American International Group Inc. said yesterday it has agreed to pay $126 million to settle federal allegations the insurance giant helped two customer companies commit accounting fraud.
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Time Warner is expected to announce a settlement with the Justice Department in its investigation of advertising deals between America Online and smaller Internet companies that may
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Qwest Communications International Inc., the regional telecommunications company, agreed Thursday to pay $250 million to settle allegations that it engaged in &quot;massive financial fraud&quot; by improperly booking $3.
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The state of Ohio said on Wednesday that it had reached a $144 million settlement with Time Warner Inc. on behalf of six state funds that claimed they were defrauded after the media conglomerate merged with the online service AOL.