San Diego, CA -- (SBWIRE) -- 06/27/2012 -- A deadline is coming up on July 16, 2012 in the lawsuit filed for investors in NYSE:AOL over alleged securities laws violations by AOL, Inc.
Investors who sold a substantial amount of AOL, Inc. (NYSE:AOL) shares between August 11, 2011 and April 9, 2012, should get active before the Deadline that is coming up on July 16, 2012, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on on behalf of those who sold shares of AOL, Inc. (NYSE:AOL) stock between August 11, 2011, and April 9, 2012, that AOL, Inc and its Chairman and CEO, and Chief Financial Officer misled investors about its true financial condition in the run-up to the April 9 announcement that AOL, Inc. has entered into an agreement to sell over 800 of its patents and their related patent applications to Microsoft Corporation (NASDAQ: MSFT) and to grant Microsoft a non-exclusive license to its retained patent portfolio for aggregate proceeds of $1.056 billion in cash.
The plaintiff alleges that AOL, Inc. purchased millions of its own shares at artificially depressed prices prior to the April 9 announcement.
Shares of AOL, Inc. (NYSE:AOL) jumped from $18.42 per share on April 5, 2012 to $26.40 per share on April 9, 2012.
NYSE:AOL shares closed on June 26, 2012, at $27.25 per share.
Those who sold a substantial amount of AOL, Inc. (NYSE:AOL) shares between August 11, 2011 and April 9, 2012, contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego