Pennsylvania has settled a lawsuit against Time Warner and its AOL subsidiary, with the media behemoth agreeing to fork over $23 million to various Keystone State entities, the Associated Press
reports. The suit, filed in 2004, charged that the company misled investors about its financial position -- causing some of the state's state public investment funds to lose at least $100 million.
Time Warner does not admit to anything -- but a spokeswoman says it is happy to have put the litigation behind it. The suit was focused on the period when AOL merged with Time Warmer, which happened
in 2001.
Read the whole story at Associated Press via Pennlive.com »
