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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1635 |
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"The complaint alleges that members of the Rigas family that controlled Adelphia systematically looted the corporation. In less than four years, the complaint alleges, they stole hundreds of millions of dollars and through their fraud caused losses for investors of more than $60 billion" (CNN). Subsequent to the arrest of Rigas Adelphia's stock closed at 15 cents a share on July 24, 2002, down from a peak of $66 in May 1999...
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Subsequent to the arrest of Rigas Adelphia's stock closed at 15 cents a share on July 24, 2002, down from a peak of $66 in May 1999.
"Rigas, founder, former chairman and CEO, his sons Timothy and Michael, faced federal conspiracy charges as well as securities, bank and wire fraud charges. They each face up to 100 years in prison and millions of dollars in fines if convicted on all counts" (CNN)...
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