McNutt said creditors are looking into whether they can sue AT&T and other cable operators for draining money from the company by forcing ExciteAtHome to sign unprofitable contracts with cable operators. The cable companies set up ExciteAtHome and controlled the board of directors. AT&T owns three-quarters of ExciteAtHome's voting stock.
Looks like AT&T was up to its eyebrows in the scheme to force Excite@Home into bankruptcy so they could pick up the company for peanuts (not that Excite isn't blameless!). Some way to treat your customers, is all I've got to say.
ATT owned 30 or 40 % of excite and stacked the board with their cronies. Welfare for lawyers for years to come. WHAT A COUNTRY