Deloitte to pay Adelphia trust
From Times Wire Services
Auditing firm Deloitte & Touche will pay $167.5 million to a trust set up to pursue litigation on behalf of Adelphia Communications Corp. after a Bankruptcy Court approved a settlement between the auditor and the collapsed cable company.
U.S. Bankruptcy Judge Robert Gerber approved the settlement without a hearing, according to court papers.
The deal settles a lawsuit Adelphia filed against Deloitte in 2002 as well as a series of claims Deloitte filed in Adelphia’s bankruptcy case.
