AOL Time Warner Bombarded By Class Action Claims

By Marius Meland (March 23, 2006, 12:00 AM EST) -- Media giant AOL Time Warner has been buried under an avalanche of lawsuits this week, as more of the institutional shareholders who opted out of last year's $2.6 billion settlement offer renewed their assault in hopes of recovering a massive $3.3 billion.

The claims are being pressed by shareholders dissatisfied with the 2005 settlement of a class action suit over the January 2001 merger of America Online and Time Warner, later characterized as one of the most disastrous combinations in U.S. business history.

Some of those shareholders include the Alaska Electrical Pension Fund, B.S. Pension Fund Trustee, Norges Bank, Beaver County...

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