The California State Teachers’ Retirement System (CalSTRS) has announced a $105 million settlement in a securities fraud case against AOL Time Warner, its accountants, banks, and several former executives. The suit charged that AOL artificially inflated its stock price in 2000 and 2001 prior to its merger with Time Warner, resulting in damages to the $157.8 billion CalSTRS of approximately $135 million. CalSTRS opted out of the federal class-action lawsuit against AOL and the other defendants and filed a separate suit in California state court.
CalSTRS Settles Securities Fraud Case Againast AOL Time Warner And Its Advisers For $105 Million
The California State Teachers' Retirement System (CalSTRS) has announced a $105 million settlement in a securities fraud case against AOL Time Warner, its accountants, banks, and several former executives. The suit charged that AOL artificially inflated its stock price in
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