Judge OKs AOL Class-Action Settlement
An AP newswire article, via Yahoo! News, reports that:
A judge has approved a $2.65 billion class-action settlement of claims that advertising revenue was counted in a fraudulent manner prior to the merger of America Online Inc. and Time Warner Inc.More here.
U.S. District Judge Shirley Wohl Kram signed a ruling approving the deal Thursday. She had given the settlement tentative approval in September 2005.
The settlement resulted from lawsuits brought by shareholders who complained that AOL improperly accounted for dozens of advertising transactions, inflating revenue for 15 quarters between 1998 and 2002.
posted by Fergie @ 4/07/2006 03:57:00 PM
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