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Interpublic announces agreement to settle SEC claims

Published on .

New York—Interpublic Group of Cos. announced Friday that it has been informed that the Securities and Exchange Commission has concluded its investigation into the ad agency holding company’s past financial reporting practices. The investigation started in 2002.

Interpublic and the SEC have agreed on a settlement of all charges brought by the government agency against Interpublic and its McCann Erickson subsidiary. Interpublic and McCann have agreed to an injunction against violating the applicable provisions of the federal securities laws, while neither admitting nor denying the SEC’s allegations, and McCann has agreed to pay a civil penalty of $12 million.

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