Latham & Watkins Released From Adelphia Securities MDL

Law360, New York (October 2, 2012, 10:39 PM EDT) -- A New York federal judge on Tuesday agreed to let Latham & Watkins LLP out of a member suit in multidistrict litigation over alleged artificial inflation of Adelphia Communications Corp.'s securities.

U.S. District Judge Lawrence M. McKenna granted Latham’s motion to dismiss the second amended complaint in the suit, finding that its position as counsel to the underwriters of certain notes offered in this dispute does not qualify it as an entity than can be held liable for approving statements made in relevant prospectuses that turned...
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