Time Warner, AOL Execs Settle For $105M

Law360, New York (February 7, 2007, 12:00 AM EST) -- Time Warner Inc. and former AOL executives will pay $105 million to a California teachers’ pension fund to settle allegations that exaggerated prices for AOL stock in 2000 and 2001 led the pension fund to lose about $135 million.

The California State Teachers’ Retirement System, one of the largest U.S. pension funds, alleged in a California state suit that former senior executives and bankers with AOL inflated the stock value when the Internet company acquired Time Warner in 2000.

The deal was made in December, but...
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