A former senior accountant told the SEC that Disney recorded non-existent sales from giveaways and inflated gift-card revenues.
A former senior accountant at Disney has accused the entertainment titan of overstating its revenues by billions of dollars. Sandra Kuba alleged Disney employees recorded non-existent sales from giveaways and artificially inflated revenue from gift cards. She claimed the company's revenue could have been overstated by as much as $6 billion, or 20%, in 2009 alone. Disney has dismissed Kuba's claims as"utterly without merit." Watch Disney trade live.
A former senior accountant at Disney has accused the entertainment titan of overstating its revenues by billions of dollars. Sandra Kuba alleged Disney employees recorded non-existent sales from giveaways and artificially inflated revenue from gift cards. She claimed the company's revenue could have been overstated by as much as $6 billion, or 20%, in 2009 alone. Disney has dismissed Kuba's claims as"utterly without merit." Watch Disney trade live.
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