AOL Investors to Get Lawsuit Money Soon
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More than six years after America Online's troubled marriage to Time Warner, investors hurt by accounting tricks before and after the merger will begin to receive proceeds of the company's multibillion-dollar settlement in a huge class-action lawsuit.
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AOL accounts facTime Warner has finalised a deal with Federal authorities over fraud allegations against its AOL subsidiary. Under the terms of the deals, Time Warner will pay fines totalling some $510mn and
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Media giant Time Warner will pay approximately $510 million to settle various fraud charges regarding its America Online (AOL) unit with two US regulatory agencies, the company revealed this morning.
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Some aggrieved investors are turning to lawyers to pursue possible legal claims stemming from losses at two Bear Stearns Cos.  hedge funds that were virtually wiped out from large, illiquid bets on risky mortgages.
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The Internet company deals with layoffs, new shareholder lawsuits and potential deals with Google and News Corp.
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Investors who have not paid for shares bought in VonageÂs initial public offering are being told to write a check or risk legal action.
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Investors in Bear Stearns Cos.   hedge funds that were virtually wiped out from large bets on  risky mortgages are planning to sue the company as early as  Monday, television channel CNBC reported on Friday.
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America Online is aiming to put itself in the vanguard of the Internet travel business. The Sterling, Va., Internet service provider plans to announce today that it will invest in an upstart that threatens
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Dig this: AOL believes a renegade Internet spammer buried gold and platinum on his family's property in Massachusetts and wants to bring in bulldozers to search for the treasure and satisfy a $12.8 million judgment it won in federal court.
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Build it (and make it free) and will they come? AOL likes to think so.
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explanation of market-timing, further attorney comment. Picks up last graf. Also moving on general news wires. DENVER  _ The former chief executive of Invesco Funds Group has agreed to pay $500,000 to
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A U.S. judge has ruled that a lawsuit filed by Enron investors can go to trial in April as planned even though an appeals court has not yet issued a key decision on whether the plaintiffs can be allowed to join as a group.
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Investors in two struggling Bear  Stearns Cos.  hedge funds that made bad bets on risky  mortgages will almost surely file lawsuits in hopes of  recouping losses, but legal experts say they could have a tough  time proving their case.
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TIME WARNER has agreed to pay $510 million (Â£262 million) to settle claims that America Online (AOL), its internet division, overstated its earnings capacity.
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Investor's Business Daily - If you have doubts about how mutual fund managers reacted to news that insurance broker Marsh &amp; McLennan was the target of a lawsuit by New York Attorney General Eliot Spitzer, you need look only at the share price.
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Investors are allowed to put the money in their I.R.A.âs in to almost anything, be it condominiums or airplanes. A growing number of people are doing just that.
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(InfoWorld) - Three people have sued AOL LLC over the company'sÂ controversial release of member search-engine records, in what their lawyers are billing as the first such lawsuit seeking national class action status. The three AOL members charge the Time Warner Inc. subsidiary with, among other things, privacy violation, false advertising and unjust enrichment. Two unnamed AOL members residing in California, and Kasadore Ramkissoon, who lives in New York, filed their lawsuit on Friday in the U.S. District Court for the Northern District of California. The lawsuit seeks monetary relief for all affected AOL members in the U.S. whose search data was disclosed without consent from January 1, 2004 until the present. The plaintiffs also ask the court to instruct AOL not to store or maintain users' Web search records, and to destroy the Web search records it currently has. The lawsuit stems from AOL's decision to post on its research Web site about 20 million search records from about 658,000 of its members, covering the three-month period between March and May. AOL didn't disclose the names of the members, but it grouped each member's records with a unique number. This made it possible to see what each individual searched for. The data included search queries, as well as Web sites the members clicked on to. When the issue became a privacy scandal in August, AOL apologized and pulled the data from the Web site, but by then the data set had been downloaded multiple times and the records remain available online. The records contain sensitive information like credit card, telephone and Social Security numbers, birth dates, full names and addresses. The New York Times tracked down one of the affected members and, with her permission, interviewed and identified her. The law firm Berman DeValerio Pease Tabacco Burt & Pucillo represents the plaintiffs. A copy of the complaint is posted on theÂ law firm's Web site. The scandal has had significant repercussions within AOL. Its Chief Technology Officer Maureen Govern resigned and two other employeesÂ were fired. Last week, in an e-mail sent to all employees and obtained by IDG News Service, AOL's Chief Executive Officer Jonathan Miller referred to the incident as "the search data debacle" and announced AOL plans to hire, for the first time ever, a chief privacy officer. In the e-mail, Miller outlined a reorganization of AOL's business structure, which will include a unit solely dedicated to what he termed the "protection" of AOL consumers. Last week, in its latest search engine usage study, Nielsen/NetRatings reported that in August, people in the U.S. ran 18.2 percent fewer queries on AOL's search engine, compared with August 2005. Nielsen/NetRatings didn't venture any explanations for the drop, but industry observers have pointed directly at the search data scandal as the culprit. Among the top five search engine providers, AOL was the only one whose usage share shrunk last month. The Electronic Frontier Foundation filed a complaint with the U.S. Federal Trade Commission against AOL in August over the search data release. AOL declined to provide comment for this story. Â