OTHER NEWS - Dec. 30, 1992

Former L.A. Gear Executives Settle Suit: L.A. Gear Inc. said some of the company’s former top management settled a class-action suit brought by shareholders alleging securities violations. The defendants, including former L.A. Gear Chairman Robert Greenberg, agreed to pay a total of $29.3 million to investors who purchased L.A. Gear common stock from 1989 to 1991. The plaintiffs also agreed to pay $3.2 million to L.A. Gear. L.A. Gear, which had also been sued, agreed to pay $500,000 to the shareholders. The suit, settled in U.S. District Court in Los Angeles, alleged that former executives violated securities laws by issuing false, favorable public statements designed to pump up the stock price of the Marina del Rey-based athletic shoe company. The defendants said the settlement is not an admission of guilt.