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In March of 2002, Adelphia was the 6th largest cable TV provider in the U.S. But then the company made one tiny financial disclosure and within 3 months it was bankrupt. Shareholders filed lawsuits, the SEC alleged there was fraud, and executives went on trial. What the heck happened?
By Michael McLaughlin5
3636 ratings
In March of 2002, Adelphia was the 6th largest cable TV provider in the U.S. But then the company made one tiny financial disclosure and within 3 months it was bankrupt. Shareholders filed lawsuits, the SEC alleged there was fraud, and executives went on trial. What the heck happened?