CalPERS Settles Suit With Time Warner Over Merger

Law360, New York (March 14, 2007, 12:00 AM EDT) -- After opting out of a $2.4 billion class action settlement over the 2001 merger of American Online and Time Warner Inc., the nation’s largest public pension fund is now awaiting a check for $117.7 million.

The California Public Employees’ Retirement System (CalPERS), which was one of several shareholders that withdrew from the 2005 settlement, announced Thursday that it had reached the multimillion-dollar deal.

“This recovery is very favorable to the beneficiaries of the pension fund and is approximately 17 times more than we would have recovered...
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