Author Topic: Judge dismisses suit against AOL in patent sale to Microsoft  (Read 4818 times)

MrTempler

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A federal judge on Monday dismissed a lawsuit accusing AOL Inc (AOL.N) and some of its executives of fraud for repurchasing 14.8 million shares in 2011 without disclosing that the company would sell a $1 billion portfolio of patents to Microsoft Corp (MSFT.O) months later.

Plaintiffs in the case said they suffered significant losses when they sold their shares ahead of the patent deal, after which AOL's stock surged 43 percent in a single day.

Knowing the deal with Microsoft was imminent allowed AOL, its CEO Tim Armstrong and former CFO Arthur Minson to effectively buy their company's stock at a discount price, plaintiffs said.

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andyreynolds

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Re: Judge dismisses suit against AOL in patent sale to Microsoft
« Reply #1 on: August 27, 2013, 03:06:29 AM »
Wow what a good strategy, thank to god that the judge was smart, AOL have to try to does the same with the them services