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Times Staff and Wire Reports

Daimler-Benz Profit Forecasts Target of Inquiry: Germany’s largest manufacturing company said its top executives are being investigated for their prediction of a profitable 1995, which they changed weeks later to a forecast for a big loss. Daimler-Benz said the investigation is a routine inquiry based on a shareholder lawsuit filed this year. The lawsuit alleges that Daimler’s management and board lied about the company’s financial situation. Prosecutors in Stuttgart, Germany, could not be reached for comment. The suit was filed by a spokesman for a shareholder group. He accused managers of violating trading laws when they reported in May that a $1-billion profit was expected, then five weeks later forecast a loss of about $1 billion, then this week said the loss would be about $4 billion.

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