AT&T in turmoil – using fake accounts to clear Time Warner deal

Usually we would wince at the act of kicking a company while it is down, but when that company is AT&T and the allegations are as serious as falsifying accounts, we need to ask ourselves not how AT&T got away with it but why a behemoth operator in the world’s wealthiest market was driven to such extreme lengths? AT&T was slapped with a lawsuit this week alleging that fake DirecTV Now accounts were created and factored into the company’s quarterly and annual filings – creating an entirely manufactured and fraudulent illusion of the streaming skinny bundle’s performance to please investors. Of course, these remain nothing more than allegations for now but given last week’s events which saw activist investor Elliott…