01.07.2004 03:10 PM
Scientific-Atlanta Sued Over Adelphia Deal
(January 7, 2004) Atlanta, GA--Scientific-Atlanta has been served with a complaint that seeks to add it as a defendant in a previously filed securities action in federal court in New York. The suit has been filed on behalf of unnamed purchasers of debt securities issued by Adelphia Communications Corporation and Arahova Communications Inc. It alleges that certain of Adelphia's underwriters, banks, auditors, law firms, and vendors were liable to plaintiff for various alleged securities laws violations by Adelphia and certain of Adelphia's former management. It alleges that certain commercial transactions between Adelphia and Scientific-Atlanta relating to Adelphia's purchase of digital set-top boxes and a marketing support arrangement and the related accounting treatment by Adelphia resulted in violations of the anti-fraud provisions of the federal securities laws with respect to the purchasers of Adelphia's securities in whose interest the plaintiff purports to act. The suit does not allege any impropriety by Scientific-Atlanta regarding its financial statements or its investors.
Scientific-Atlanta denies the allegations and intends to defend against the claim.
Scientific-Atlanta
www.sciatlanta.com



Comments
Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found




Thursday 10:05 AM
NAB Requests Expedited Review of Spectrum Auction Lawsuit
“Broadcasters assigned to new channels following the auction could be forced to accept reductions in their coverage area and population served, with no practical remedy.” ~NAB

Sue Sillitoe, White Noise PR /   Thursday 09:10 AM
Fairlight Unveils the Next Generation of Audio Post Production
Wall Street Communications /   Thursday 01:00 PM
NUGEN Audio AES Product Preview

 
Featured Articles
Discover TV Technology