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Comcast Hit With Suit Over Earnings Reports

Law360 (January 4, 2008, 12:00 AM EST) -- Comcast Corp. has been hit with a shareholder lawsuit alleging the cable provider intentionally misled investors in order to inflate stock prices, which fell dramatically after Comcast released a year-end earnings revision.

In a suit filed on Jan. 3 in the U.S. District Court for the Eastern District of Pennsylvania, plaintiffs' firm Coughlin Stoia Geller Rudman & Robbins alleged that between Feb. 1, 2007 and Dec. 4, 2007, Comcast issued false and misleading statements regarding the company's current and future financial condition, as well as failed...
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