Buchanan Ingersoll to Pay Adelphia Investors $12 Mil

, The Legal Intelligencer


After a decade of litigation, Buchanan Ingersoll & Rooney is finally closing the book on a shareholder class action targeting the firm for the advice it gave Adelphia Communications Corp., the cable giant that went bust in a massive accounting and securities fraud scandal in 2002. Under a deal proposed in the case June 14, a class of Adelphia investors will walk away with $12 million as part of a $40 million insurance-funded settlement that Buchanan Ingersoll agreed to last year.

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