AT&T To Pay $340M To Settle Claims For Bankrupt Broadband Company

Law360, New York (May 4, 2005, 12:00 AM EDT) -- AT&T Corp. will pay $340 million to settle claims related to the bankruptcy of At Home Corp., once a high-flying broadband company, in a deal that terminates trade-secrets and patent infringement litigation.

Cable company Comcast Corp., which bought AT&T's broadband operations in 2003, will reimburse AT&T for half of the settlement amount as set forth in its purchase agreement, the companies said.

AT&T will pay the funds to the Bondholders' Liquidating Trust, which is pursuing claims on behalf of the At Home estate.

AT&T said the...
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