Rosenfarb LLC Assists in Filing Class Action Lawsuit Against AOL

New York, NY, May 3, 2012 – Rosenfarb LLC announced that is has provided services to the Rosenfarb Law Firm, which filed a class action lawsuit against AOL. The lawsuit was filed on behalf of everyone who sold shares of AOL, Inc. (NYSE: AOL) stock between August 11, 2011, and April 9, 2012.

On April 9, 2012, AOL, Inc. announced the sale of a portion of its patent portfolio for more than $1 billion. The price of AOL stock subsequently soared from approximately $18 to $26 per share. Between August 11, 2011, and April 9, 2012, AOL, Inc. bought several million shares of common stock. The lawsuit alleges that while purchasing its common stock AOL misled investors about its financial condition, thereby artificially reducing the price that AOL paid for its shares.

See the press release here.