Retired Teachers Appeal Ruling In Homestore Case

Law360, New York (January 29, 2007, 12:00 AM EST) -- A teachers’ retirement group in California has appealed a ruling that blocked it from pursuing claims against AOL Time Warner Inc. over the company’s role in the Homestore Inc. accounting fraud scandal.

California State Teachers’ Retirement System filed the appeal on Thursday in the U.S. Appeals Court for the Ninth Circuit. The U.S. District Court for the Central District of California denied its motion for leave to file a second amended consolidated complaint in December.

In 2001 and 2002, three of Homestore Inc.’s top-level executives were...
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