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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