Time Warner Inc., its AOL subsidiary and other defendants will pay $23 million to settle a Pennsylvania lawsuit that alleged the companies misled investors about their financial health and caused four state public investment funds to lose at least $100 million, state AG Tom Corbett said last week. The lawsuit focused on the companies’ statements surrounding their January 2001 merger, worth $106 billion. Fund counsel said the funds did better on their own than as part of a class action that also settled.
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Posted on Wednesday, May 31st, 2006. Filed under: In-House Counsel, Law Misc
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