AOL Blasts Claims In Fraud Suit Over $1B Patent Sale

Law360, New York (October 30, 2012, 5:20 PM EDT) -- AOL Inc. on Friday in New York federal court blasted a consolidated securities fraud suit accusing it of buying millions of its own shares at artificially depressed prices before announcing a billion-dollar patent sale, saying it's based on a blogger's unsubstantiated reporting and lacks substantial allegations.

AOL argued in a motion to dismiss that the suit's allegations failed to prove any fraud and were based on a post by Silicon Valley blogger Marc Stephens, who speculated in his popular tech blog "I, Cringeley" that AOL had...
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