Two Class Actions Take Aim At AOL Time Warner

Law360, New York (January 31, 2006, 12:00 AM EST) -- Still stinging from a $25 million class action settlement earlier this month, AOL Time Warner has been slapped with two more class actions in one day, this time on charges of falsifying financial information and inflating stock trading prices at the expense of billion-dollar losses for shareholders.

In a suit filed earlier this week, the Cement Masons Pension Trust For Northern California Inc. alleges that AOL’s January 2000 acquisition of Time Warner was accomplished through the falsification of AOL’s financial results, and that company insiders artificially...
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