Ex-AOL Execs Win Toss Of 2 Claims In SEC Suit

Law360, New York (September 23, 2011, 5:47 PM EDT) -- A New York federal judge on Thursday stripped claims from a U.S. Securities and Exchange Commission lawsuit accusing two former AOL Time Warner Inc. executives of engineering a scheme to overstate online advertising revenue by about $1 billion, citing a recent U.S. Supreme Court decision.

U.S. District Judge Colleen McMahon ruled in favor of Mark Wovsaniker and Steven E. Rindner on two securities fraud claims — one under Section 10(b) of the Exchange Act, and the other under Section 17(a) of the Securities Act — based...
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