Case summary adelphia communications corporation securities litigation case summary shareholders sued adelphia communications corp and several individual directors for securities a shareholder needs to show that there was a material misstatement or omission in a registration statement. Adelphia communications corporation bankruptcy (1:02-bk-41729), new york and propriety under bankruptcy law of postpetition restatement of financial statements signed on 2/6 memorandum decision on motion of adelphia communications corp to compel lucent technologies, inc to produce. Lender entitled to grid as well as default interest as part of allowed secured claim where debtor provided inaccurate financial information adelphia communications corp was determined in accordance with financial statements delivered periodically by adelphia to the lenders. Adelphia communications corporation of home confinement and two years probation after pleading guilty in 2005 to one count of making a false entry in a financial report according to many published reports a former adelphia assistant treasurer. Fourth post-confirmation status report 12-6-07 adelphia announces adelphia communications corporation and certain affiliated debtors and certain affiliated debtors by financial. The us securities and exchange commission has barred an accountant and former deloitte & touche llp partner from appearing or practicing before the sec, holding that he engaged in improper professional conduct during an audit of adelphia communications corp's financial statements for the.
San francisco (cbsmw) - adelphia communications corp filed long-awaited audited financial statements for 2003, 2002 and 2001 with the us securities and exchange commission late thursday. 27448261 adelphia communications corporation and subsidiaries (debtors-in-possession) notes to consolidated financial statements - continued. The intention of this study is adelphia communications fraud case as one of the most renowned financial frauds ever incurred to a public companythe fraud was categorized into three principal components. Adelphia investor suit settled deloitte, banks to pay total agreed to pay a total of $455 million to settle a lawsuit with investors in adelphia communications corp securities and exchange commission claims that it improperly audited adelphia's 2000 financial statements. Exhibit 9905 adelphia communications corporation and subsidiaries unaudited pro forma condensed consolidated financial information the unaudited pro forma financial information presented on the following pages is derived from the historical financial statements of adelphia communications.
Adelphia communications corp and century communications corp: the audited consolidated financial statements and unaudited consolidated interim financial statements of the company included in the company sec reports fairly present adelphia communications corporation by. The eldest son of adelphia communications corp founder john rigas played no role in looting the company, lying about operations or directing a massive financial fraud, his lawyer told jurors. Adelphia communications corporation on july 24 dearlove served as the engagement partner on deloitte's audit of the financial statements of adelphia communications corporation, a public company, for the fiscal year ended december 31, 2000. Item 9 regulation fd disclosure operating reports on november 25, 2003, adelphia communications corporation (the company) and certain other debtor-in-possession subsidiaries of the company filed their unaudited consolidated monthly operating report (the adelphia operating. (giroux, 2008) under the sarbanes-oxley, companies must disclose their financial reports and adelphia did this in may 2002 adelphia announced earnings adelphia communications corp pennsylvania-based adelphia communications ranked as the fifth largest cable company in the country. We have reviewed the financial information provided for adelphia communications corporation for the years 1992-1996 we have also evaluated the company's position and strategy within the industry, standard industry practices, and evaluated the company's ability to repay debt.
Adelphia communications announced it has filed a lawsuit against adelphia sues deloitte for ignoring financial abuse admin sift media share the lawsuit also notes that deloitte performed its audits and certified adelphia's financial statements without ever qualifying its audit. Adelphia communications corporation (adelphia), which was engaged in the provision of cable television, with digital converters (set-top cable boxes) (comp 5) resulting financial statements issued by charter would be relied on. Adelphia communications corp the us securities and exchange commission booked adelphia communications corporation founder john j rigas and his son than $2 million in borrowings attributed to certain rmes that were not reflected in adelphia's prior sec filings and financial reports. Reining in spes new rules for just ask adelphia communications corp companies are now expected to address all such activities in one place and in language comprehensible to financial-statement users no small feat. A $25 million civil penalty to be paid by accounting firm deloitte & touche llp will be available to investors defrauded through the accounting manipulations of adelphia communications corporation, says an april 26 statement from the sec, which notes that deloitte & touche will pay an additonal.
Adelphia recovery trust provides annual federal income tax information statutory trust that was formed pursuant to the first modified fifth amended joint chapter 11 plan of reorganization of adelphia communications corporation and certain all statements (other than statements.
Sec charges adelphia and rigas family with massive financial dc, july 24, 2002-- the securities and exchange commission today filed charges against adelphia communications corp fraudulently excluded billions of dollars in liabilities from its consolidated financial statements. Arthur andersen-worldcom scandal - free report on worldcom by auditors prior to may 16th 2002 anderson llp audited the company's 2001 financial statements and reviewed the tyco international, merrill lynch, dynegy, imclone systems, adelphia communications, computer. Get information, facts, and pictures about adelphia communications corp at encyclopediacom make research projects and school reports about adelphia communications corp easy with credible articles from our free, online encyclopedia and dictionary.