AOL Time Warner Faces Massive $3.3B Class Action

Law360, New York (February 7, 2006, 12:00 AM EST) -- In a legal strategy seen as aggressive even by the standards of the class action plaintiffs bar, the institutional shareholders who opted out of last year’s $2.6 billion settlement offer are seeking a whopping $3.3 billion in their renewed assault on media giant AOL Time Warner.

The claims are being pressed by shareholders dissatisfied with the 2005 settlement of a class action suit over the January 2001 merger of America Online and Time Warner, later characterized as one of the most disastrous combinations in U.S. business...
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