Cohen, Milstein, Hausfeld & Toll, P.L.L.C. Files Class Action Suit in Alexandria, Virginia Against AOL Time Warner.Business Editors & Legal Writers WASHINGTON--(BUSINESS WIRE)--July 26, 2002 The following notice is issued by the law firm of Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , Milstein, Hausfeld & Toll, P.L.L.C., who filed a class action in the United States District Court for the Eastern District of Virginia The United States District Court for the Eastern District of Virginia is one of two United States district courts serving the Commonwealth of Virginia. History During the 1960s, Judge Albert V. Bryan Jr. , Alexandria Division, on behalf of purchasers of AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner ("AOL") (NYSE NYSE See: New York Stock Exchange :AOL) during the period between October 18, 2000 and July 17, 2002, inclusive. This case has been filed in Virginia where America Online is based. The Complaint alleges that during the Class Period, AOL recognized revenue on a variety of transactions in violation of generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting in an effort to hide the decline in advertising revenues. When the true facts concerning AOL's recognition of revenue in violation of GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). were revealed in a Washington Post article on July 18, 2002, AOL shares declined an additional 10% to close on July 18, 2002 at $12.45. At the beginning of the class period, AOL common stock traded at approximately $47 per share The plaintiff's counsel -- Cohen, Milstein, Hausfeld & Toll, P.L.L.C. -- has significant experience in prosecuting investor class actions and actions involving financial fraud. The firm has offices in Washington, D.C., Seattle, Washington, and New York and is active in major litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. pending in federal and state courts throughout the nation. You may visit the firm's website at www.cmht.com. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total hundreds of millions of dollars or more. If you purchased common stock of AOL during the Class Period, you may move the Court no later than September 16, 2002 to serve as lead plaintiff for the Class. In order to serve as lead plaintiff, you must meet certain legal standards. If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following: Daniel S. Sommers, Esq. or Lisa Polk, Cohen, Milstein, Hausfeld & Toll, P.L.L.C., 1100 New York Avenue The following roads are named New York Avenue:
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