BUSINESS BRIEFING / COURTS
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Times Wire Reports
Bank of America Corp. and Bank of New York Mellon Corp. are among 26 banks that must defend a fraud lawsuit for billions of dollars brought by a trust pursuing claims on behalf of defunct Adelphia Communications Corp.
U.S. District Judge Lawrence McKenna ruled that the lawsuit could go forward against 26 banks and 22 investment banks. His ruling focused on legal issues, not the merits of the case.
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