Time-Warner Plans For $3 Billion Shareholder Settlement
Time-Warner (www.timewarner.com) announced a tentative settlement with a group of shareholders who claimed the company had put forth inflated revenue figures and had accounted improperly when it merged its operations with those of AOL in 2000. The company is setting aside $3 billion to settle shareholder lawsuits. It also authorized a program to buy back $5 billion of its shares over two years.