SECURITIES

Attorneys Ask Judge to Reject Prudential Settlement: Lawyers representing about 1,000 investors have asked a federal judge in New Orleans to reject a proposed $120-million settlement between Prudential Securities Inc. and its energy-partnership investors. U.S. District Judge Marcel Livaudais has scheduled a Jan. 19 fairness hearing on the settlement between the brokerage firm and 137,000 investors who accuse Prudential Securities, a unit of the Prudential Insurance Co. of America, of fraud and misrepresentation during the 1980s. The lawyers contend that the settlement negotiated by class-action attorneys would leave only $90 million for investors after the legal fees are paid. Moreover, they contend that investors are entitled to at least $780 million for out-of-pocket losses and 6% interest that would have been earned if the money had been invested elsewhere.