Judge Approves $2.6B AOL Time Warner Settlement

Law360, New York (April 10, 2006, 12:00 AM EDT) -- “Fair, reasonable and adequate” is how a federal judge described the whopping $2.6 billion settlement reached between AOL Time Warner and several disgruntled shareholders.

In her decision to approve the amount, U.S. District Judge Shirley Wohl Kram wrote that there had been “overwhelming support” for the settlement, which was penned in August 2005 to extinguish a securities fraud lawsuit.

The lawsuit, filed in the U.S. District Court for the Southern District of New York, related to allegedly improper accounting practices that took place during the fateful...
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