Judge OKs Adelphia’s Settlement for Investors
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From Reuters
A federal judge approved a $715-million settlement by Adelphia Communications Corp. to help compensate investors who lost money in the cable operator’s collapse.
Judge Leonard Sand approved the deal that was agreed to by Adelphia and the government April 25 in a criminal case against the company.
The judges overseeing Adelphia’s bankruptcy proceedings and an action by the Securities and Exchange Commission must approve the settlement.
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