Wolf Haldenstein Attys Face Sanctions In AOL Patent Sale Suit

Law360, Los Angeles (December 5, 2013, 8:43 PM EST) -- A New York federal judge said Thursday that sanctions must be imposed against counsel from Wolf Haldenstein Adler Freeman & Herz LLP who filed an allegedly frivolous consolidated securities class action claiming AOL Inc. bought millions of its shares at artificially depressed prices before announcing a $1 billion patent sale.

The judge said the attorneys, in opposing the yet-to-be-determined sanctions, hadn't shown there was evidence supporting the plaintiffs' alleged conspiracy theory that AOL held a sham auction of the patent portfolio months after Chairman and CEO Tim...
To view the full article, register now.