University Snags $246M From Time Warner

Law360, New York (March 1, 2007, 12:00 AM EST) -- Time Warner Inc. has agreed to pay the University of California $246 million to settle charges that AOL artificially inflated its stock price prior to merging with Time Warner in January 2001.

As part of the settlement, which the University of California announced Wednesday, co-plaintiff Amalgamated Bank received an additional $14 million.

The UC board of regents will now decide whether to approve the settlement at its March 14-15 meeting. Time Warner’s board must also approve the settlement.

UC said it would continue pursuing claims against...
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