Arbitron says it broke NYSE listing rule |
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Thu, 22 Feb 2007 00:41
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NEW YORK (AP) - Arbitron Inc., a company that provides ratings for radio stations, said Wednesday that it had been out of compliance with listing rules on the New York Stock Exchange for more than a year because the son of one of its independent directors worked at the company's outside accounting firm.Arbitron disclosed in a regulatory filing that it became aware from a director questionnaire that the son of one of its directors, Alan Aldworth, worked for KPMG, the accounting firm that does the audits for Arbitron.Aldworth resigned earlier this month from the board's corporate governance and audit committees, and the company said it is now in compliance with the listing rules.Arbitron noted in the filing that while Aldworth's son worked at KPMG, he never worked on any audits related to Arbitron, and he works in a different office from the one that does provide Arbitron's audits.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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