OTHER NEWS - June 2, 1994
From Times Staff and Wire Reports
U.S. Facilities Challenges Vote for Directors: The Costa Mesa insurance holding company, which shareholders voted last week to put up for sale, filed suit to challenge the election of two directors nominated by Fidelity National Financial Inc., which is pursuing a $79-million hostile takeover. U.S. Facilities said independent vote tabulators improperly disqualified 80,386 votes that could have swung the election to management’s slate of directors. In unrelated Wall Street activity, Fidelity’s stock price fell $1.625 to $14.875 on the New York Stock Exchange after a Merrill Lynch & Co. analyst lowered his estimates for earnings this year.
