Rawson Food Stores Inc. and its owner...

Rawson Food Stores Inc. and its owner have been awarded $23.6 million in damages in a civil suit accusing Prudential-Bache Securities Inc. of issuing bad advice on Rawson’s 1985 purchase of part of the Pantry Pride supermarket chain. Owner John V. Rawson Jr. was awarded $2 million in compensatory and punitive damages and the company $21.6 million. The lawsuit alleged that Prudential-Bache had recklessly advised Rawson and his company to buy 43 northeast Florida and southeast Georgia stores from Pantry Pride Enterprises Inc. for $40 million. Rawson Food Services filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code in February, 1986.