AOL Time Warner to face SEC probe
An ominous cloud hangs over AOL Time Warner. Despite an upbeat announcement about its Q2 financials, AOL Time Warner faces an SEC probe. C|Net reports:
"After the (Washington Post) articles came out, the SEC informed us they are conducting a fact-finding inquiry," CEO Richard Parsons said, referring to a report in the Post that the AOL division boosted its online advertising earnings through questionable deals amid mounting indications that the company would suffer a collapse in ad revenue.
It looks like the government is seriously trying to crack down on alleged corporate malpractices.