We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.