Corp-Ethics.com - Report: Time Warner, Ernst to Settle Fraud Suit

Company	AOL TimeWarner [Company Info]
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Date	Issue	Title
27th May 2006	Fraud Investigation	Time Warner, Ernst to Settle Fraud Suit

Report

Time Warner Inc., its AOL subsidiary and auditor Ernst & Young have agreed to pay $23 million to settle a lawsuit accusing them of defrauding a Pennsylvania pension fund for teachers and state workers.

The suit, filed in February 2004, claimed that the companies overstated revenue and subscriber figures after the merger of New York-based Time Warner and America Online Inc., based in Dulles, Va., was announced in 2000, Pennsylvania Atty. Gen. Tom Corbett said.

The Pennsylvania case was among a group of suits filed by more than 100 pension funds and other investors.

Other Reports on AOL TimeWarner
Date	Issue	Company	Report
8th Aug 2006	Other Issue	AOL TimeWarner	AOL apology for search data error
24th Aug 2005	Questionable Practice	AOL TimeWarner	AOL pays out after Spitzer probe
3rd Aug 2005	Questionable Practice	AOL TimeWarner	Time Warner to Pay $2.4 Billion for AOL Suit
10th Jan 2005	Fraud Investigation	AOL TimeWarner	Ex-AOL staff face criminal charge
15th Dec 2004	Fraud Investigation	AOL TimeWarner	Time Warner fraud charge settled
20th Jun 2003	Questionable Practice	AOL TimeWarner	Excessive Spending

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