Time Warner settles lawsuit for $144 million

Time Warner Inc. will pay $144 million to Ohio and five state pension funds to settle a securities-fraud lawsuit, resolving one of the last claims over its 2001 acquisition by America Online Inc.

The payment is $135 million more than the pension funds would have received had they participated in a $2.4-billion settlement with shareholders in 2005, Ohio Atty. Gen. Marc Dann said. The company also agreed to cover $31 million in legal fees and expenses.