High Court Denies Suit Against E&Y Over Time-AOL Deal

Law360, New York (June 13, 2011, 1:51 PM EDT) -- The U.S. Supreme Court on Monday declined to hear an appeal brought by an AOL Inc. investor alleging that Ernst & Young LLP approved tainted financial statements related to Time Warner Inc.'s merger with AOL.

In rejecting the petition for certiorari, the high court dashed AOL investor Dominic Amorosa and co-petitioner attorney Christopher Gray’s claims that the Second Circuit failed to properly apply the Securities Litigation Uniform Standards Act of 1998 when it dismissed the fraud suit in February.

The decision brings an end to 2003...
To view the full article, register now.