In re AOL Time Warner Inc. Securities & ERISA Litigation

Defendants' Memorandum in Support of Motion to Dismiss

more+
less-

This case covers all participants in the 401(k) plans offered by Time Warner (formerly AOL Time Warner), for whose individual accounts the plans held an interest in the AOL Time Warner Stock Fund (the “Fund”) from January of 1999 to July of 2003. The case alleges that Defendants breached their fiduciary duties by continuing to invest assets of the 401(k) plans in the Fund when AOL Time Warner stock had become artificially inflated as a result of materially false or misleading statements about revenue and earnings by senior management.

Schatz Nobel Izard P.C. was appointed Co-Lead Counsel by the United States District Court for the Southern District of New York.

This document is Defendants' memorandum in support of Motion to Dismiss, which the Court denied.

After the Court denied Defendants’ Motion to Dismiss and Plaintiffs conducted substantial discovery, the Parties reached agreement to settle the case for $100 million. Following a hearing, the Court approved the Settlement on September 27, 2006. The Court has not yet decided a pending motion for the award of attorneys’ fees and expenses.

LOADING PDF: If there are any problems, click here to download the file.

Reference Info:Legal Memoranda: Motion Addressed to Pleadings | Federal, 2nd Circuit, New York | United States


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Izard Nobel LLP | Attorney Advertising

Written by:

more+
less-

Izard Nobel LLP on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×