Court Clips Fraud Claim In Adelphia Bondholder Suit

Law360, New York (December 22, 2009, 3:43 PM EST) -- A U.S. district court judge has trimmed one state law fraud claim against cable conversion box manufacturers Scientific-Atlanta Inc. and Motorola Inc. from a suit brought by Adelphia Communications Corp. bondholders, while leaving the plaintiffs' conspiracy to defraud claim intact.

The order was handed down Monday in the U.S. District Court for the Southern District of New York, where massive multidistrict litigation over Adelphia securities and derivatives brought by shareholders and investors accusing the company of conspiring to artificially inflate its bottom line has been consolidated....
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