At Home At Last?

Could the At Home saga finally be nearing an end for the cable industry? At Home bondholders agreed in principal last month to settle litigation in Delaware Court of Chancery in exchange for a payment of $40mln each from Comcast and Cox, according to an SEC filing. The settlement is subject to approval of the At Home bankruptcy court. It would resolve over 5 years of litigation between the parties, Cox said. To refresh your memory: At Home was a provider of high-speed service that filed for bankruptcy in ’01. Cox and Comcast were among those who invested in and had a distribution relationship with At Home. Certain bondholders brought suit against Comcast, Cox and others alleging breaches of fiduciary duty and seeking recovery of alleged short-swing profits. The short-swing profits claim was dismissed by the courts, but the plaintiffs recommenced the breach of fiduciary duty claim in the DE Court of Chancery.