Our View on Protecting Shareholders: Must Fighting Bogus Lawsuits Mean Ignoring Blatant Fraud?
Immunity for some in fraud cases leaves many investors vulnerable
Seven years ago, executives at Charter Communications, a cable provider based in St. Louis, came up with an ingenious way to cook the company's books. Charter would overpay for set-top boxes by $20 apiece. The makers of those boxes, Motorola and Scientific-Atlanta, would then use the extra cash to buy advertising from Charter. This meant free advertising for the two box makers. More important, it allowed Charter to falsely claim it had met its revenue goals and appear healthier than it really was.
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