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AOL securities opt-outs

They'll do quite nicely, reports Josh Gerstein in the NY Sun: "Time Warner has agreed to pay $400 million to five large institutions that opted out of a class action settlement of securities fraud charges stemming in part from unusual accounting practices at America Online." The WSJ law blog says Bill Lerach's firm, which represented the biggest of the opt-outs, the University of California, is expected to pocket about $37 million of the university's $246 million take. Earlier coverage here and here.



Rafael Mangual
Project Manager,
Legal Policy

Manhattan Institute


Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.