They took control of @home, controlling perhaps 25% of the common shares but over 70% of voting shares. They installed their cronies on the board. They ran a company that was about to go cash positive into the dirt.
They filed chapter 11, and that very day, AT&T conveniently had their ludcrous $307M buyout ready. The stink can be detected as it leaves the solar system at warp speed. It was described on another thread as 'Corporate Terrorism', and I'd have to agree.
If AT&T had simply conducted business, they could have probably satisfied the creditors and gotten @home, so they could spin it off with AT&T Broadband to the Cable providers for a tidy profit. But nooooo, that wasn't good enough. They had to try to steal it. But now, their bluff has been called, and guess who ends up paying for it? Certainly not C. Michael Armhole or any of the other T felons.
If my broadband goes bye-bye, so does my AT&T Long Distance, and you'd better believe they're gonna know why.
What do you expect from a company that uses the Death Star for it's corporate symbol?