SEC Sues Penthouse

moe.ron · #1 01-25-2005, 03:40 AM

Link to the Article

Any thoughts?

James · #2 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 · #3 01-26-2005, 03:49 AM

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

SmartBlondeGPhB · #4 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.