Alltel Board Committees Investigating International Division of Former Information Services Subsidiary
May 03 2005 - 1:53PM
Business Wire
Alltel (NYSE: AT) today advised the Securities and Exchange
Commission and the U.S. Department of Justice that the audit and
governance committees of the company's board of directors are
conducting an independent investigation of alleged improper
payments by the international division of Alltel's former
information services subsidiary. The investigation covers the time
period before Alltel sold that business to Fidelity National
Financial in 2003. The allegations originated in a December 2004
lawsuit against Fidelity National by a Chinese consulting firm.
Alltel was not named a defendant in that lawsuit. Media reports
about the litigation occurred in March 2005. The company intends to
cooperate with any inquiry that may be conducted by the SEC or the
Department of Justice into these allegations. Alltel is a
customer-focused communications company with more than 13 million
customers and $8 billion in annual revenues. Alltel provides
wireless, local telephone, long-distance, Internet and broadband
services to residential and business customers in 27 states.
ALLTEL, NYSE: AT www.alltel.com
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