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moe.ron

01-25-2005 03:40 AM

SEC Sues Penthouse

Link to the Article

Any thoughts?

James

01-25-2005 11:59 AM

I think I don't want to register for another news service . . . .

But it sounds terrible that the SEC would sue penthouse.

SmartBlondeGPhB

01-26-2005 03:49 AM

I registered and it still wouldn't let me view it........

SmartBlondeGPhB

01-26-2005 03:53 AM

The jist of the article is that they improperly booked $1 million in revenue at the end of 2003 so they could show a profit rather than a loss. Then they submitted financial statements without the required auditing.

But, it is the FORMER publisher of Penthouse. Not the current management.

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