As recently as June, former Disney financial analyst Sandra Kuba filed a complaint with the Securities and Exchange Commission claiming that the company has inflated its revenue by as much as $6 billion in the 2008-2009 fiscal year alone.
Disney has called Kuba’s accusations “utterly baseless.”
Kuba told MarketWatch that practices by employees working in the parks-and-resorts division took advantage of weaknesses in the company’s accounting software.
In it’s 2009 annual filing with the SEC, Disney’s parks and resort division reported revenue of $10.7 billion.
Also Read: Disney Q3 Earnings, Revenue Fall Shy of Wall Street Expectations
Kuba first noticed the revenue recognition and reported it to Disney management in 2013, according to MarketWatch. She told the financial news website that she has filed a