Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!usa-post Newsgroups: usa-today.law From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: law Tue, Mar 17 1992 Date: Tue, 17 Mar 92 05:44:53 EST Message-ID: 03-17 0000 DECISIONLINE: Business Law USA TODAY Update March 17, 1992 Source: USA TODAY:Gannett National Information Network BUCHWALD GETS $150,000: Superior Court Judge Harvey Schneider Monday awarded Art Buchwald $150,000 and his partner Alain Bernheim $750,000 in a suit over credit for the film "Coming to America." Schneider set "fair market value" for the pair's work. They sought $6.2 million and Paramount Pictures figured $265,000. Buchwald said he plans to buy "a small American car or a large Japanese one." CREDITORS BALK AT CIRCLE K DEAL: CK Acquisitions, a group of international investors that includes the owner of Saks Fifth Avenue, has agreed to buy Circle K, the USA's second-largest convenience store chain, for $425 million. Unsecured creditors for the chain, which filed for Chapter 11 reorganization in May 1990, say they will oppose the deal despite CK's offer to help Circle K get out of Chapter 11. GRAND JURY ISSUES INDICTMENTS: A San Diego federal grand jury handed up indictments Monday in the distribution to 43 states and Canada of so-called "fountain of youth drugs" Gerovital, Zumba Forte and about 100 others. Prosecutors say there is a $2 billion-a-year black market in the drugs that are alleged to treat such ailments as depression, diabetes and rheumatoid arthritis. MCA FILES AMENDED COMPLAINT: The MCA Music Entertainment Group Monday filed an amended cross complaint in Los Angeles Superior Court against Boston Ventures and Motown for damages in excess of $75 million. In the amended cross complaint, MCA alleges that transition of distribution and manufacturing to Polygram by Boston Ventures and Motown caused, among other things, a loss of sales. CONTINENTAL PURCHASE POSSIBLE: A group of investors led by financier Charles Hurwitz is close to an agreement to buy a majority stake of Continental Airlines, which has been under bankruptcy court protection since December 1990, The Houston Post reports Monday. Continental filed a reorganization plan Feb. 6. The bankruptcy court must approve any buyout before the reorganization can be completed. ARTHUR ANDERSEN SETTLES: Arthur Andersen & Co. has settled civil fraud charges for $30 million, Reuters says. Arthur Andersen was accused of helping Charles Keating, Jr. in a bond-sales scam. A $1.2 billion class action suit against Keating, Arthur Andersen and law firm Deloitte & Touche, among others, claims salespeople at Lincoln Savings and Loan tricked investors into buying uninsured junk bonds. CANGAURD CASE ADJOURNED: Canguard Health Technologies Inc. announced Monday that its patent infringement case with Deprenyl Research Ltd. was adjourned due to insufficient time for the matter to be heard by the court. The date for reconvening the action is to be set in the next few days and is expected to be next month. ANTI-FRAUD PACKAGE UNVEILED: California Insurance Commissioner John Garamendi Monday unveiled a legislative and regulatory package designed to crack down on fraud among unlicensed insurers in the state. Measures contained in four bills make current policy disclosure laws more effective and increase surety bond requirements for insurance brokers and surplus lines brokers, among other things. INJUNCTION TAKES EFFECT: A preliminary injunction restraining Ropak Corp. from manufacturing, distributing and selling its Mainstream 4000 Series and Delta bins went into effect March 5, as a result of a ruling by Federal District Court, Detroit, Chief Judge Julian A. Cook Jr. The injunction was sought by Perstorp Xytec, Inc. as part of the company's patent infringement lawsuit against Ropak. G-P DISCLOSES CLASS ACTION: Georgia-Pacific Corp. announced Monday that it disclosed in a filing with the SEC that a purported class action has been filed against the firm. The action, which was filed on behalf of people who live down the river from a bleached kraft pulp mill, alleges that 33 firms, including a subsidiary of G-P, had conspired to suppress information about the alleged harmful effects of dioxin. DEAL REACHED TO SETTLE SUITS: The Blue Cross and Blue Shield Association has reached an agreement in principle to pay $8.6 million to settle all lawsuits stemming from the collapse of Blue Cross and Blue Shield of West Virginia. BCBSA will contribute the money to the estate of the former Blue Cross and Blue Shield Plan in Charleston, contingent upon dismissal of litigation in West Virginia involving BCBSA. OFFICIALS TO PLEAD GUILTY: In Tampa, Fla., two Nationwide Electronic Tracking officials are expected to plead guilty Friday to charges of conspiring to sell protected federal computer data, court records show. Twenty people across the USA face charges in the case, in which company officials allegedly bribed government workers for information and then resold it. EX-SUPERVISOR FILES SUIT: A wrongful-discharge suit was filed Monday against Boise Cascade Corp. in Portland, Maine, by ex-supervisor Wayne Boucher, who claims he was fired in 1991 and accused of theft - which he denies -after pointing out safety glitches. Boise Cascade would not comment on the case. Business Law Editor: Jason P. Smith. (919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution violates federal law. This article is copyright 1992 Gannett News Service. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM