TECHNOLOGY - Oct. 31, 1992
From Times Staff and Wire Reports
Accounting Firm Ordered to Pay $95 Million: A Denver bankruptcy judge ordered the accounting firm Coopers & Lybrand to pay $95 million in one of the largest legal settlements by an accounting firm in U.S. history. Coopers will pay the lion’s share of a $128.1-million settlement on claims by the creditors, lenders and former shareholders of MiniScribe Corp. The defunct computer disk drive maker collapsed in the late 1980s amid allegations of massive fraud. MiniScribe’s court-appointed trustee, Tom Connolly, called the decision “a good, solid settlement for the bankruptcy estate.” He expects some creditors will begin receiving payments by the end of the year.
