2nd Circ. Probes Toss Of AOL-Time Warner Merger Row

Law360, New York (January 20, 2011, 4:46 PM EST) -- The Second Circuit on Thursday expressed skepticism about an investor lawsuit accusing Ernst & Young LLP of helping to cover up problems following Time Warner Inc.'s merger with AOL Inc. being dismissed as frivolous.

Judge Chester J. Straub pelted counsel for the auditing firm with inquiries during a hearing in the U.S. Court of Appeals for the Second Circuit, asking how a lower court judge found the investor's suit to be without merit.

Referring to a test set out in a 2005 Second Circuit decision in...
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