Tele-Media Drops Deloitte From Adelphia Suit

Law360, New York (September 17, 2009, 2:04 PM EDT) -- Deloitte & Touche LLP has been let off the hook by some of the plaintiffs in the long-running multidistrict securities litigation against Adelphia Communications Corp. over the massive accounting fraud that took place at the collapsed cable company.

On Wednesday, Judge Lawrence McKenna signed off on an order dismissing with prejudice claims brought by the so-called Tele-Media plaintiffs against former Adelphia auditor Deloitte.

The judge awarded no costs in the matter, according to the stipulation, which shed no light on why Deloitte was dropped.

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