UC Regents to Sue AOL Time Warner
From Bloomberg News
The University of California Regents plan to file a securities-fraud lawsuit in state court against AOL Time Warner Inc. in an attempt to recover $450 million lost by investing in the world’s largest media company.
The university will withdraw from a class-action suit against AOL Time Warner in federal court to pursue its own case in California, a spokesman said.
An AOL Time Warner spokeswoman said company officials hadn’t seen the lawsuit and couldn’t comment.
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