BellSouth Settles

BellSouth Corp. (NYSE: BLS), an Atlanta-based telecommunications service provider, has announced the preliminary settlement of the securities class action pending against it in the N.D. of Georgia. The case was originally filed in August 2002 and alleges various accounting improprieties, including that BellSouth failed to properly write down goodwill associated with its Latin American operations. The proposed settlement is for $35 million.