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Judge Tosses Most of Adelphia Shareholders' Claims

Law360 (August 20, 2007, 12:00 AM EDT) -- Adelphia shareholders suffered a setback Friday when a bankruptcy judge tossed out almost all of their claims against Wall Street financial firms involving their connection to the cable company's collapse.

U.S. Bankruptcy Court Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York dismissed all but one of the shareholder's claims, which alleged fraud and violations of federal racketeering laws in the defendants “dealings with Adelphia's former management,”according to Friday's ruling.

The defendants are all major investment banks including Bank...
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