Time Warner Settlement Calls For Better Compliance

Law360, New York (September 7, 2006, 12:00 AM EDT) -- Media conglomerate Time Warner Inc. will change its governance and compliance rules to improve oversight and boost board independence after a federal judge approved a settlement Wednesday in a series of derivative lawsuits.

The lawsuits, filed in August 2002, allege accounting and compliance violations by directors and officers of America Online Inc. and Time Warner Inc. both before and after the companies’ highly anticipated yet doomed 2001 merger.

The settlement resolves several tracks of litigation, including an action filed after the New York-based company ignored, and...
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