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Violation Tracker Individual Record

Company: AOL
Current Parent Company: Apollo Global Management
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $25,000,000
Year: 2006
Date: December 7, 2006
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Mega-Scandal: Early 2000s Accounting Scandals
Violation Description: AOL & Time Warner jointly paid $50 million to settle allegations that they misrepresented advertising revenues and growth, thus artificially inflating the value of their stock when they were a single company. The announcement did not indicate how the cost was to be divided between the companies, so we assume it was split equally between the two.
Level of Government: state
Action Type: agency action
Agency: Alaska Attorney General
Civil or Criminal Case: civil
Facility State: Alaska
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: private equity (including portfolio companies)
Specific Industry of Current Parent: private equity (including portfolio companies)
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.