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Charter Finalizes $83M Shareholder Settlement

By John M. Higgins -- Broadcasting & Cable, 7/8/2005 11:43:00 AM

Ailing cable operator Charter Communications finalized the settlement of suits filed by an array of shareholders over the company’s accounting scandals.

The company’s board signed off on a deal paying $15 million worth of Charter Class A common stock and $68 million in cash, for a total value paid of approximately $83 million. Four former Charter executives have pled guilty to criminal charges connected with the company’s past inflation of subscriber counts and cash flow.

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