AOL execs cleared in Microsoft patent sale case

AOL execs didn't commit fraud before selling 800 patents to Microsoft in 2012, a New York judge ruled.

AOL Inc. executives weren't engaged in fraud prior to a sale of the company's patents to Microsoft Corp., a U.S. District Court judge ruled.

Reuters reports that plaintiffs brought the lawsuit after AOL shares soared after the company sold Microsoft (NASDAQ: MSFT) 800 patents for $1.056 billion in April 2012. The plaintiffs claimed they suffered losses by selling AOL shares prior to the April patent sale.

But U.S. District Judge Denise Cote dismissed the suit, saying that it was evident that AOL's patents were valuable and that the company was working to sell the patents prior to the April sale.

Source: http://feeds.bizjournals.com/~r/techflash/venture/~3/y84DBeXt8Ak/aol-execs-cleared-in-microsoft-patent.html

What is ricin Boston Marathon Explosion Boston Marathon bombing irs Friends Reunion Elena Delle Donne usa today