AMERica on-Line, Another over valued company? Message Board

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Technology Stocks : AMERica on-Line, Another over valued company?

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To: who wrote (133)	6/14/1996 12:15:00 AM
From: Zoltan!	of 222

Amer Online Denies Report Of N.Y. Attorney Genl Probe Dow Jones News Service -- June 13, 1996 By Carmen Fleetwood NEW YORK (Dow Jones)--An America Online Inc. (AMER) spokeswoman denied a published report that the company was the subject of a formal investigation by the New York State Attorney General's Office regarding its billing policies. The on-line service did say in a statement that it spoke to the office with regard to an ''informal inquiry'' about consumer concerns with the on-line industry. The published report, citing an unnamed source, said America Online was the target of a probe by the attorney general's office for its billing practices and the possibility that consumers were overcharged. A spokeswoman for Attorney General Dennis Vacco declined to comment, citing office policy. ''Several state attorneys general have informally inquired into industry practices'' and America Online has spoken to the New York office ''with regard to this informal inquiry,'the company said in the statement. America Online added in the statement that it has worked closely with the National Association of Attorneys General and other involved attorneys general to address consumers' concerns. The Washington, D.C., association wasn't immediately available for comment. The on-line service, with the largest number of subscribers, at about 6 million, has already been the target of at least one lawsuit for its billing practices. A California lawyer filed a suit in California Superior Court in San Francisco last July seeking class-action status. The attorney accused the on-line service of billing parts of minutes as whole minutes and charging customers for time spent in free-service areas, according to The Wall Street Journal. America Online declined comment at the time the lawsuit was filed. -Sounds fishy to me. Regards

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