OTHER NEWS - April 25, 1992

Shareholder Lawsuit: Americom Business Centers Inc., an Irvine company with a hotel joint venture in Moscow, said Friday that the company and its founder are being sued by 12 shareholders or former members of Americom management. James McDonough, a shareholder who led the group, alleges that Paul E. Tatum, Americom’s president and chief executive, failed to convey a substantial portion of stock as required by contract. It also alleges that Tatum used the assets of the company for his personal gain and misrepresented the business of the company. Americom said that it is forming a special committee to investigate the allegations. The suit was filed in federal court in Florida. Americom consultant and former chairman Bernard Rome said he heard that the company was being sued but had not seen a copy of the suit. Americom joined with Russian government entities and the Radisson hotel group in Moscow in the American Trade Center, which operates the 430-room Radisson Slavinskaja Hotel and Business Center. The center, with 165 business suites, is near the Russian Parliament.