According to Reuters, U.S. District Judge Leonard Sand believed the outcome would not have changed despite allegations from the Rigas camp that a "central witness" (ex-CFO James Brown) gave perjured testimony.
"We conclude that in the context of the entire trial and considering the challenged testimony in its entirety… the jury's verdict would not have been different had it considered the allegedly conflicting testimony," Sand concluded in his 11-page opinion.
In May, a New York court upheld 22 of 23 counts of the July 2004 fraud convictions, which sentenced John Rigas to 15 years in prison and Timothy to 20. In October, they petitioned the U.S. Supreme Court to hear an appeal. (See The Never Ending Story .)
In 2006, Comcast Corp. (Nasdaq: CMCSA, CMCSK) and Time Warner Cable Inc. (NYSE: TWC) sewed up their deals to acquire the former Adelphia cable systems. (See Adelphia Acquisition Completes.)
— Jeff Baumgartner, Site Editor, Cable Digital News