Subject: Yet Another $100 million Lawsuit (from Motley Fool board)
Date: 6/12/98 11:13:37 AM (ET)
$100 million Kesmai v. AOL Anti-Trust Suit
Jury Trial Starts June 29
Public pre-trial hearing June 19.
Kesmai is subsidiary of News Corp.
Suit details at:
kesmai.com
AOL just settled $100 million shareholder suit for
$35 million. Said most covered by insurance. But imagine
the premiums now, especially with this other $100 million
one on tap. Who is AOL's insurance co? Is it public?
IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF VIRGINIA
(ALEXANDRIA DIVISION)
KESMAI CORPORATION, KESMAI ARIES LTD.,
and KESMAI STUDIOS, INC., Plaintiffs,
-against-
COMPLAINT AND JURY DEMAND
AMERICA ONLINE, INC., AOL NETWORKS, INC.,
AOL STUDIOS, INC., WORLDPLAY ENTERTAINMENT, INC.,
THEODORE LEONSIS, and DAVID COLBURN,
..........................................................
AOL 1998 Q3 10Q
Note 5. Legal Proceedings
The Company, one of its subsidiaries and two officers are
named in a lawsuit alleging, among other matters, that the
Company breached an agreement and has monopolized and
attempted to monopolize an alleged market for online games.
The complaint seeks $100 million in damages and requests other
relief. A trial date has been set for late June, 1998. |
