OTHER NEWS - Jan. 15, 1994
From Times Staff and Wire Reports
13,000 Forgo Prudential Settlement: On the eve of today’s deadline, more than 13,000 investors have chosen not to participate in a revised settlement of a class-action lawsuit over Prudential Securities’ troubled oil and gas partnerships. That is about 1,000 more investors than opted out of a much smaller settlement nearly a year ago. The first offer--of $37 million in cash--was derailed last February by a federal judge. The new offer involves a maximum of $120 million in cash for the roughly 130,000 investors in Prudential’s Energy Income Funds.
