SEC sues former AOL execs over ad-revenue claims

The Securities and Exchange Commission is suing eight former America Online Time Warner executives for allegedly inflating the online firm's advertising revenue by more than $1 billion between 2000 and 2002. Four of the eight agreed to settle with the SEC, paying fines while neither admitting nor denying any wrongdoing, while the remaining four confront fraud-related charges in federal court. Attorneys for the defendants who did not settle said their clients deny being involved in any wrongdoing.

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