TECHNOLOGY - Feb. 19, 1992
From Times Staff and Wire Reports
MiniScribe Settlement Reached: An undisclosed settlement was announced in the MiniScribe investment case minutes after a judge in Galveston, Tex., set aside last week’s $568-million jury award against the Coopers & Lybrand accounting firm and a San Francisco investment banking company. District Judge Roy Engelke ruled that the verdict was “contrary to the great weight and preponderance of the evidence.” The jury had found for Kempner Management Co., U.S. National Bank and Harris L. (Shrub) Kempner Jr. The plaintiffs had alleged that Coopers & Lybrand and the investment bank Hambrecht & Quist had allowed MiniScribe, a Longmont,Colo.-based maker of computer disk drives, to deceive investors about the company’s financial condition.
