Excite@Home Bondholders To Sue

from the big-surprise-there dept

Well, this was very much expected, but Excite@Home's bondholders are now saying they're going to sue AT&T, saying AT&T's $307 million offer was a sham to string Excite@Home along while AT&T set up it's own network. I'm sorry, but I think this is ridiculous. These creditors keep saying that their network was worth more, yet couldn't find anyone to actually offer more. Now, because AT&T did the smart thing and called their bluff, by building their own network as quickly as possible, they want to sue? They should just admit they made a very very bad investment and go home.