Disney settles disclosure charges
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Walt Disney settles US federal charges that it failed to disclose how family members of directors were employed by the company.
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Royal Ahold and its two former top executives reached a settlement on Wednesday with the S.E.C. in connection with a multibillion-dollar accounting scandal.
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Fannie Mae yesterday agreed to pay the government $7.5 million to settle a case in which the Justice Department alleged that the giant housing-finance company knowingly accepted proceeds of a mortgage scam.
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Engadget.com has resolved a dispute with the software giant over proprietary content.
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A class-action lawsuit that alleged Microsoft Corp. overcharged consumers was settled Wednesday for an undisclosed amount.
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The operator of two computer privacy services agrees to pay up to $1 million to settle charges of using deceptive marketing techniques and selling personal information.
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The S.E.C. said that I.B.M. had settled a case in which it had been accused of misleading investors.
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(InfoWorld) - A subcontractor working for a company that processes and fulfills orders for the Disney Movie Club sold credit card numbers and other account information belonging to an unknown number of customers to undercover law enforcement agents. The May 2007 incident has prompted Disney to send out letters to an unspecified number of customers informing them about the breach. Disney did not respond to requests for comment about the incident. But Brad Van Duser, an Atlanta-based customer of the company's movie club, received the letter and made it available to Computerworld. The letter is dated July 6 and signed by John Flynn, vice president of online digital and directing marketing for Buena Vista Home Entertainment, a division of The Walt Disney Co. In it, Flynn said the incident involved an employee at Alta Resources Inc., a Neenah, Wis.-based outsourcer working for Disney. According to Flynn, the employee sold credit card information including names, addresses, credit card numbers and expiration dates to law enforcement authorities in an undercover sting operation. Flynn said Disney had been assured that card security codes, such as the CVV code, had not been compromised in the incident. "Law enforcement officials have informed us that there is no indication that your information was used to make improper purchases or sold to anyone other than federal law enforcement agents," Flynn said in his letter. "Nevertheless, in an abundance of caution, we have informed representatives of Visa, MasterCard, American Express and Discover of these events." The letter urged recipients to contact the financial institutions that issued their credit cards if they had any questions regarding their accounts. But it did not mention any free credit monitoring services, an option many companies have offered in similar situations. Van Duser said he was surprised by the incident. "As a customer, what surprised me the most was that even after all of the security breaches reported in the news recently that a large, reputable company like Disney had not taken steps to thoroughly protect my credit card information," he said in an e-mail. "And then when the breach occurred, they didn't offer a credit monitoring or other service." The Disney incident is the latest in a seemingly endless stream of breaches being disclosed by major companies this summer. Just this week it was disclosed that Kingston Technologies Inc., a maker of computer memory technologies, sent out letters to about 27,000 customers in connection with a September 2005 data breach that the company did not discover until recently. Western Union made a similar disclosure, announcing that it was notifying about 20,000 customers of a potential compromise of their personal data following the discovery of a database intrusion. Such incidents have heightened consumer concerns and pushed several states to consider or enact laws requiring retailers and other entities handling credit card data to implement safeguards for protecting the data. One of the most closely watched of these laws is California's proposed AB 779 legislation, which would require breached entities such as Disney to disclose more details about security breaches, including a description of the categories of personal data that might have been compromised. In addition, the law would also hold breached entities financially liable for the costs incurred by banks and credit unions to notify customers of a breach and to subsequently block and reissue cards.
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Blog: IBM and SEC reach settlement in stock options expensing disclosure case. No fines or monetary penalties for company.
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Qwest Communications International Inc., the regional telecommunications company, agreed Thursday to pay $250 million to settle allegations that it improperly booked millions in revenue and that senior managers sought to cover it up.
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- Children's Place Retail Stores Inc.  said it agreed with a Walt Disney Co.  unit to settle charges on breaching a license agreement, under which it operates the Disney Store retail chain in North America.
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The insurance company has agreed to pay about $80 million to settle investigations into insurance sales that were used by companies to manipulate their earnings.
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Microsoft, Yahoo and Google agreed to pay a combined $31.5 million to settle federal civil allegations that they had accepted ads for illegal gambling.
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Wall Street banks Goldman Sachs and Morgan Stanley have agreed to pay $40 million each to settle charges that they tried to manipulate the prices of hot IPO stocks, US regulators said yesterday.
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Bee Staff Writer. In the latest crackdown on conflicts of interest on Wall Street, federal and state regulators said Thursday that they&#39;ve obtained a $100 million settlement from two investment
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The agreement with the maker of Thomas & Friends Wooden Railway toys settles a class-action lawsuit by thousands of families who purchased lead-tainted products.
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US market regulators charged Walt Disney Co. (DIS.N: Quote, Profile, Research) on Monday with failing to disclose a web of relationships between the entertainment