OTHER NEWS - Aug. 22, 1996

ICN Wins Partial Victory: Jurors presented ICN Pharmaceuticals Inc. with a partial victory in a complex and long-running lawsuit brought by disgruntled shareholders who were demanding $300 million in damages. Attorneys representing plaintiffs in the suit weren’t available to comment, but lawyers for the Costa Mesa-based company said they were “elated and gratified” by the jury’s decision to throw out seven of 13 actions. “The jury concluded that a majority of the plaintiff’s case was baseless,” said Arnold I. Burns, lead counsel for ICN. “They said that the company’s actions were not false and misleading.” The suit centered on allegations that ICN executives touted a potential AIDS treatment during the mid-1980s in order to pump up stock sales. Jurors deliberated for about five weeks on the complex case that was filed nearly a decade ago. Plaintiffs now have the right to pursue the remaining six allegations in the case that is being heard by U.S. District Judge Kimba Wood.