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

Law360, New York (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...
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