$17.5M Settlement In Suit V. Rhythms Execs Gets OK

Law360 (April 6, 2009, 12:00 AM EDT) -- A long-running class action securities lawsuit against the officers and directors of now-defunct high-speed Internet provider Rhythms NetConnections Inc. came to a close last week, when the judge overseeing the case gave final approval to a $17.5 million settlement.

Judge John K. Lane of the U.S. District Court for the District of Colorado gave his final approval of the settlement on Friday, providing the culmination of a class action launched in January 2002, less than six months after Rhythms NetConnections filed for Chapter 11 bankruptcy protection...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.