A summary of Southern California-related business litigation developments during the past week.

Stockholders Sue Cable Business Firm: Stockholders sued Financial News Network, claiming that the cable business news company wrongfully withheld details about its investment in a new financial information service and other ventures. The federal lawsuit was filed following FNN’s announcement that it may face “a very substantial non-cash loss” for the fourth quarter and the year if auditors decide its $28-million investment in FNN:PRO must be charged against current earnings. If FNN reports such a loss, the company said it could be placed in default on approximately $48.5 million in bank loans. (Case No. 90-5316. Filed Oct. 2.)