The Truth About those "Crazy Lawsuits" Reports
Posted by
Greg OwenMarch 05, 2007 2:04 PMTags:
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Many of you have seen the type of reports that are published regarding all of the "crazy lawsuits" out there? No doubt, some of the reports are humorous, some unbelievable and many are untrue. Recently AOL posted a piece titled " Most Outrageous Lawsuits." It seems they are taking advantage of members of the public who think that whatever is posted is news as opposed to propaganda.
It is not at all surprising that AOL would want to misinform those who might read that particular piece of propaganda. It is nothing more than a campaign to attempt to eliminate the right of Americans to seek justice. Looking back over the past few years, for shareholders and investors of AOL know only too well that the civil justice system has been the last hope to hold AOL accountable for their negligence towards these people. Let me demonstrate exactly what I am getting at:
Last week AOL agreed to pay $246 million to compensate the University of California for losses to their pension and endowment funds after the company's stock prices plunged in 2001-2002. This payment was agreed to by AOL after the University of California alleged that AOL inflated their stock just prior to a merger with Time-Warner. It came to light that AOL misrepresented its subscriber numbers, revenues and sales;
Due to "accounting problems" on behalf of AOL , Time Warner reached agreements to pay $405 million to settle lawsuits. That was in February of 2007;
Also in February, AOL reached yet another settlement, this time in the amount of $105 million. That settlement was made with the California State Teachers' Retirement System. The settlement came after a claim that AOL executives artificially boosted the value of its stocks prior to buying Time Warner;
I have only listed the cases that have settled so far this year. Simular cases involving AOL go back years. The American Association for Justice knows how important it is to have a recourse when you have been wronged. Jon Haber CEO of AAJ has suggested several ways that we can all fight this propaganda campaign:
AOL members can post a comment telling AOL to stop running this propaganda on their web site;
Call Chairman and CEO of AOL, Randy Falco at (703) 265-1000. Insist that he takes down the posted information;
Tell others to get onboard.
Should you have any questions, please do not hesitate to contact the American Association of Justice Communications Department at (202) 965-3500 x 369.