October 26, 2004

AT&T Settles

The AT&T securities class action went to trial, but there will be no jury verdict. AT&T (NYSE: T), a N.J.-based telecommunications company, announced today that after three weeks of trial proceedings it is settling the case for $100 million, or about 4% of the damages being sought by the plaintiffs. The company also said that "it intends to seek reimbursement from its insurers for the amounts to be paid."

Posted by Lyle Roberts at October 26, 2004 10:48 PM | TrackBack
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