The huge fine would be dished out as recompense for accounting irregularities at the company’s internet arm, America Online, which were used to boost profits.
AOL paid $100bn for Time Warner at the height of the dot com boom, but problems soon came to light and several executives were ousted as a result.
The fine would equal that handed to WorldCom and is beaten only by the $1.1bn settlement deal paid by Prudential in the 1990s.
Chartered accountant Colin Adams rebuilt the AIM listed company’s finance team and helped turn the business around after a challenging period
Travis Perkins to close 30 branches and could cut as many as 600 jobs, the builders’ merchant said, as it warned on full year profits
O2's new CFO Patricia Cobian discusses the joined-up approach required to improve digital connectivity - and its vital role in improving the UK's economic growth prospects