Advertisement

SECURITIES

From Times Staff and Wire Reports

Prudential Sets Reserves for Partnerships: Prudential Securities set aside an additional $125 million last year in reserves to cover legal claims involving limited partnerships its brokers sold in the 1980s. The sum brings to nearly $400 million the amount the Prudential Insurance Co. of America unit has set aside for legal fees and to pay off disgruntled investors. A federal judge in New Orleans will hold a hearing today on a proposed settlement of class-action litigation involving energy partnerships.


Advertisement