AOL Time Warner Bombarded By Class Action Claims

Law360, New York (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...
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