AOL Time Warner: Record-setting settlement in prominent media case

Negotiated a record $100 million settlement in this high-profile ERISA fiduciary breach class action on behalf of AOL Time Warner’s 401(k) plans and their participants.

The $100 million restorative cash payment represents the largest recovery from a single defendant in a breach of fiduciary action relating to mismanagement of plan assets held in the form of employer securities. After surviving defendants’ motion to dismiss, the case entered the discovery phase. Motions for class certification and partial summary judgment were pending at the time of the settlement.