OTHER NEWS - Sept. 21, 1995

Hollywood Park Agrees to Settle Shareholder Suit: The Inglewood-based company said it will pay $5.8 million to settle the lawsuit, which was filed last year over a big drop in its stock. In a separate settlement, it also expects to pay $1.3 million and issue $1.4 million of stock warrants to a former controlling shareholder of Turf Paradise, a Phoenix horse track the company acquired in a stock swap last year. The class-action lawsuit, filed in federal court in Los Angeles, stemmed from the company’s announcement last Sept. 27 that it would break even for the year because of lower-than-expected profits at its Woodlands Race Track in Kansas. The settlement would apply to stock acquired between Sept. 1, 1993, and Sept. 27, 1994. On Sept. 28, the stock fell almost 32% to $14. Shares of the stock closed up 25 cents at $11.75 in Nasdaq trading Wednesday.