Disney Shares Slip Amid Reported Whistleblower Allegations of Inflated Revenue

Variety | 8/19/2019 | Elaine Low
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Sandra Kuba, a former senior financial analyst for Disney’s revenue operations unit, says she has filed a series of whistleblower tips with the U.S. Securities and Exchange Commission, alleging that the entertainment conglomerate repeatedly and systematically overstated its revenue for years, according to a MarketWatch report, by as much as $6 billion in a single year.

The Dow Jones-owned business news outlet, which reviewed the filings, said the allegations involved the parks and resort segment, and included fictitious revenue records for complimentary golf rounds or free guest promotions, for example. In another instance, Kuba accused theme park employees of sometimes recording gift card revenue twice or recording gift card revenue at face value even if park guests paid a discounted price.

Kuba - Complaints - SEC - August - Position

Kuba said she first made the complaints to the SEC in August 2017 and was reportedly fired from her position at Disney a...
(Excerpt) Read more at: Variety
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