Judge Won't Let Deloitte Off For Adelphia Audit

Law360, New York (March 18, 2008, 12:00 AM EDT) -- A judge has denied a second plea by Deloitte & Touche LLP to be dropped as a co-defendant from the multidistrict securities litigation against Adelphia Communications Corp., saying the firm's argument was interesting but unpersuasive.

U.S. District Judge Lawrence McKenna of the Southern District of New York said Thursday that his original decision last September will stand, leaving actionable some of the hedge funds' fraud claims against the firm over its auditing of the collapsed cable company's financial reports.

The funds, among them Appaloosa Investment Ltd...
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