Interpublic Faces Expanded SEC Scrutiny

Law360, New York (November 9, 2005, 12:00 AM EST) -- Interpublic Group of Cos. Inc. reported another quarterly loss Wednesday following a $514 million restatement the company made in September, as the Securities and Exchange Commission said it had expanded its investigation of the beleaguered third-largest advertising services company.

In its first earnings report since it disclosed it overstated past results by $514 million, Interpublic said Wednesday its net loss narrowed to $101.5 million, or 24 cents per share, from $501.5 million, or $1.22 per share, a year earlier.

Meanwhile, the company revealed Wednesday it may...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.