Investor Targets AOL Over $1B Patent Sale To Microsoft

Law360, New York (May 4, 2012, 4:57 PM EDT) -- An investor hit AOL Inc. with a proposed securities class action Thursday claiming the Internet giant purchased millions of its own shares at artificially depressed prices prior to announcing a billion-dollar patent deal in April that sent stock prices soaring.

Shareholder Marilyn B. Rosenfarb claims in New York federal court that AOL, its Chairman and CEO Tim Armstrong, and Chief Financial Officer Arthur T. Minson misled investors about the company's true financial situation in the run-up to the April 9 announcement that AOL had agreed to...
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Case Information

Case Title

IN RE AOL, INC. REPURCHASE OFFER LITIGATION


Case Number

1:12-cv-03497

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Denise L. Cote

Date Filed

May 3, 2012

Companies

Government Agencies

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