AOL Execs Still On Hook In $1B SEC Fraud Suit

Law360, New York (October 1, 2009, 1:15 PM EDT) -- A judge has rejected bids by four former AOL Time Warner Inc. executives to throw out civil fraud charges brought by the U.S. Securities and Exchange Commission over an alleged scheme to overstate the media giant's advertising revenues by $1 billion.

Unpersuaded by arguments that the SEC's claims were both time-barred and inadequately pled, Judge Colleen McMahon of the U.S. District Court for the Southern District of New York issued an order Wednesday denying the dismissal motions in their entirety.

The executives — former AOL chief...
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