SEC Drops Fraud Claims Against Ex-AOL CFO

Law360, New York (July 8, 2010, 12:59 PM EDT) -- Federal securities regulators on Wednesday dropped all fraud claims against former AOL Time Warner Inc. executive Joseph Ripp after he agreed to pay $150,000 to end allegations that he had helped inflate the cable giant's advertising revenue by $1 billion.

Ripp, AOL's former chief financial officer, also agreed to cooperate with the U.S. Securities and Exchange Commission in its case, which still targets three other company bigwigs, in the U.S. District Court for the Southern District of New York.

“Joe is delighted that after ten years,...
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