$6.7M Ends Adelphia Investors' Feud With Rigases

By Erin Fuchs

Law360, New York (January 21, 2010, 2:44 PM ET) -- Adelphia Communications Corp. investors have struck a $6.725 million settlement deal with 10 former executives and directors — including now-jailed John and Timothy Rigas — who they accused of artificially inflating the price of the erstwhile cable provider's securities.

Judge Lawrence McKenna preliminarily greenlighted the deal on Wednesday in the U.S. District Court for the Southern District of New York, setting a June 10 fairness hearing for final approval.

The consolidated investor suits involved in the settlement are part of ongoing multidistrict litigation over Adelphia securities...
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