The Associated Press
WASHINGTON - Shares of AOL Time Warner Inc. fell 3.8 percent, to $10.69, in trading Wednesday following a published report suggesting that the government's investigation into accounting practices at an America Online unit was widening.
In an article Wednesday, The Washington Post said regulators were looking into whether the company was "aiding and abetting" schemes by other companies to artificially inflate reported revenue.
Securities and Exchange Commission investigators will investigate whether AOL and other companies exchanged cash through sham transactions to inflate their revenue reports, and whether former executives David M. Colburn and Eric Keller were involved, the Post said, quoting unidentified sources.
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