Cablevision’s board of directors has tapped former N.Y. Gov. Mario Cuomo’s Gotham-based law firm, Wilkie Farr & Gallagher, to fortify its legal position as part of an investigation into recently disclosed accounting misdeeds at its Rainbow programming unit.
The political ties and extra legal heft will serve the media group well in the event of an SEC criminal investigation of the infraction, which last month led to the dismissal of 14 executives from cable nets AMC and WE.
The firm will assist the board’s audit committee in its review of the conditions surrounding the improper booking of $6.2 million in expenses.
Cuomo’s firm has worked on behalf of several of the Cablevision board members in the past. The firm joins another legal specialist drafted by Cablevision in the last week, former SEC official Willam McLucas of Washington D.C.-based Wilmer Cutler & Pickering, which is handling Cablevision’s internal review of accounting and corporate procedures.
Cablevision is currently awaiting a response from the SEC, having disclosed its findings to the regulator.