- Two men seriously hurt in crash near Fruitland (9/21/16)3
- Community helps Jackson family with two cases of muscular dystrophy (9/19/16)
- Perryville man arrested for alleged patronizing prostitution, harassment (9/23/16)6
- Eldorado Resorts to buy Isle of Capri Casinos (9/20/16)7
- Concealed-carry restrictions remain in Missouri despite new state law (9/18/16)22
- Video and evidence largely confirm trooper's claims in April traffic stop shooting (9/23/16)6
- Funeral procession of former Cape Girardeau police chief Henry H. Gerecke (9/22/16)17
- Cape man accused of attacking pregnant girlfriend (9/22/16)
- Poplar Bluff man accused of beating a grandmother to death with baseball bat (9/18/16)
- Cape man may lose eye after shovel beating, police say (9/25/16)2
Time Warner settles SEC fraud charges, pays $300 million penalty
NEW YORK -- Closing a difficult chapter, Time Warner Inc. said Monday it would pay $300 million and restate three years of financial results to settle civil fraud charges stemming from its accounting of online advertising revenues and subscriber counts at its AOL unit.
The settlement with the Securities and Exchange Commission also calls for the world's largest media company to open its books to an independent examiner, which could result in additional restatements.
The details of the deal, which include no admission or denial of wrongdoing, are in line with a proposal the company made and disclosed last December. At that time, Time Warner also said it had agreed to pay $210 million to resolve charges of criminal securities fraud in a separate investigation by the Department of Justice. The combined $510 million settlements should give Time Warner a freer hand to pursue acquisitions.