This case got here out of hassle that began in January 2018, when Clear Channel Outdoor Holdings, Inc. came upon that an worker at its then-majority-owned subsidiary, Clear Media Limited, had misappropriated funds. That led to inside investigations and a delay in monetary reporting, which triggered the eye of the Securities and Exchange Commission. By August 2018, the SEC had launched a proper investigation. During that probe, the SEC requested Clear Channel to signal an settlement to increase the statute of limitations for potential enforcement motion. Clear Channel agreed, and the SEC’s investigation wrapped up in September 2023 with a settlement that didn’t contain any admission of wrongdoing by Clear Channel.