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 largest of the payments, $246 million, will go to the University of California, according to the New York Sun, which notes that smaller settlements will be directed to the California Public Employees’ Retirement System (CalPERS), Amalgamated Bank, and two pension funds for Los Angeles County employees. The institutions claim they are getting vastly better settlements than they would have had they remained in the class.
Time Warner Pays $400 Million To US Pensions Funds In Class Action Suit
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 largest of the payments, $246
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