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IN BRIEF

Adelphia Won't Cover Rigases' Legal Costs

June 07, 2002|Bloomberg News

Adelphia Communications Corp. said it won't cover legal costs of four members of the Rigas family and an employee because they breached their duty to the cable television company.

The Coudersport, Pa.-based company, which is struggling to stay out of Bankruptcy Court in part because of loans to Rigas family members, said in a Securities and Exchange Commission filing that it revoked legal protections previously promised to founder John Rigas, his sons Timothy Rigas and Michael Rigas, son-in-law Peter Venetis and James Brown.

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