SECURITIES
From Times Staff and Wire Reports
Thousands Opt Out of Prudential Settlement: New Orleans lawyer Stephen H. Kupperman said about 12,000 investors--more than double the number previously reported--elected not to participate in a class-action settlement involving Prudential Securities’ Energy Income Funds series of limited partnerships. The proposed settlement has been criticized by investors’ lawyers because it will pay only pennies on the dollar for losses totaling several hundred million. The 12,000 represents nearly 10% of the 128,000 investors who would have been covered by the settlement. By opting out, they are free to pursue individual arbitration cases against Prudential.
