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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...
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