Comcast To Contribute To TCI's Shareholder Settlement

Law360 (October 31, 2006, 12:00 AM EST) -- In an attempt to dismiss its liabilities in an eight-year-old shareholder case, Comcast Corp. has agreed to contribute $44 million to the settlement of lawsuits relating to AT&T Corp.’s acquisition of Tele-Communications Inc.

In June 1998, the shareholders of TCI filed the first of a number of class actions over AT&T’s acquisition of the cable television provider in the Delaware Chancery Court. The suits targeted both AT&T and a number of TCI directors.

The shareholders alleged that the former TCI directors had breached their fiduciary duties...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.