Despite mounting pressure from outside directors, bankers and others aimed at forcing the Rigas family to resign from the board of Adelphia Communications, the family is strongly resisting giving up its five seats.

The family is still stonewalling the SEC, and if this sufficiently irritates Nasdaq, this company is toast. Upon delisting, the bondholders will come swooping down on them. The author of this article claims that the bondholders are unlikely to press the issue, though.

Rigas Family Said to Resist Leaving Board of Adelphia