CAR_Public/040318.mbx              C L A S S   A C T I O N   R E P O R T E R
  
             Thursday, March 18, 2004, Vol. 6, No. 55

                          Headlines                            

AMERICAN MEDICAL: Agrees To $9M Pact In Tier Rating Suit
BANK OF AMERICA: Agrees To $375M Penalty In Mutual Funds Probe
CALIFORNIA: Fresno State Faces $10M Suit Over Equestrian Death
CANADIAN SUPERIOR: Faces Several Suits Over Offshore Well Claims
CHARLES SCHWAB: Faces Securities Fraud Suit in S.D. New York

CHARLES SCHWAB: Sued in Colorado for Engaging in Market-timing
CHARLES SCHWAB: Settles Suit in California for Undisclosed Sum
CHARLES SCHWAB: Faces Raps Related to Former Corporate Trust Biz
CONSTAR INTERNATIONAL INC: Faces Two IPO Lawsuits In PA Court
CONSTAR INTERNATIONAL INC: PVC Suit Discovery Begins In FL Court

CORRECTIONS CORP. OF AMERICA: Reaches Pact In Meal Break Suit
CROMPTON CORP: To Pay $50M Penalty In Rubber Additives Scheme
CV THERAPUETICS INC: Faces Derivative Stock Suit In CA Court
DELTA AIRLINES INC: Named As Defendant In Travel Agency Suit  
EXXON CORPORATION: AC Upholds $1.3 Billion Jury Verdict In Case

FEDERATED INVESTORS INC: Named In 11 Stock, Derivatives Suits
FIDELITY NATIONAL: Faces Consolidated Mortgage Suit in NY Court
FIDELITY NATIONAL: Faces Real Estate Charge Lawsuit in NJ Court
FLEETBOSTON FINANCIAL: Reaches SEC Pact On Civil Fraud Charges    
GANNETT CO INC: Employees File Pension Plan Lawsuit In CO Court

HANGER ORTHOPEDIC GROUP: AC Affirms Dismissal Of Securities Suit
HEALTHSOUTH: Facing Annual Report Filing Delay Amid Probe
J.M. SMUCKER: '100% Fruit' Customers File Suit to Demand Refund
LEUCADIA NATIONAL CORP: Faces Several Cable Consent Lawsuits
LEUCADIA NATIONAL CORP: Seeks To Settle Railroad Rights Claims

MADDEN STEVEN LTD: Reaches Tentative Pact In NY Securities Suit
MARYLAND: Crews Discover Last Missing Body In Water Taxi Mishap
MICROSOFT: Sources Say CEO In Talks To Stem EU Anti-Trust Case
MERRILL LYNCH: Ex-Broker To Expect Ruling In Work-Bias Case Soon
MOTOROLA INC: Awaits Ruling On Motion To Dismiss DC Stock Suit

MURPHY OIL CORPORATION: Faces Several ROSE Fire Liability Suits
NEW JERSEY: Bridgeton Police Join Lawsuit Against Vest Maker
NOVELLUS SYSTEMS INC: Reaches Proposed Pact In Compensation Suit
OSTEOTECH INC: Discovery Commences In CBPC Violations Lawsuit
PACKAGING CORP. OF AMERICA: Linerboard Pact Hearing Scheduled  

PMA CAPITAL CORPORATION: Faces Purported Stock Suits in PA Court
RADIO ONE: Settlement of 'IPO Suit' Still Needs NY Court's Nod
RADIOSHACK CORPORATION: Named As Defendant In Overtime Pay Suit
REGENERON PHARMACEUTICALS: Files Motion To Dismiss Stock Lawsuit
REGIONS FINANCIAL CORP: Faces Stockholder Complaints Over Merger

REHABCARE GROUP INC: Dismissal Of Stock Suit Pending in MO Court
REHABCARE GROUP INC: Files Motion to Dismiss Derivative Lawsuit
REHABCARE GROUP INC: Dismissal Denied, Suit Discovery To Begin  
SAME-SEX MARRIAGES: Gay Couples Flock To Oregon For Licenses
SBC COMMUNICATIONS: Antitrust Lawsuits in Connecticut Dropped

SHERWIN WILLIAMS: Several Lead Paint Suits Set for Trial in 2004
SOUTHWESTERN ELECTRIC: Seeks Dismissal of False Trades Lawsuits
TOBACCO LITIGATION: UST Still Faces Liability Claims, Says Firm
SPRINT: CEO Says Pending Suits Won't Change PCS Conversion Ratio
TYCO INT'L: Prosecution Rests After Closing Arguments In Case

WYETH PHARMACEUTICALS: Jury Awards Musician Who Lost Arm $7.4M

                  New Securities Fraud Cases

CANADIAN SUPERIOR: Abby Gardy Files Securities Suit in S.D. NY
CANADIAN SUPERIOR: Charles Piven Launches Securities Suit in NY
EL PASO CORPORATION: Roy Jacobs & Assoc. Files Stock Suit in TX


                           *********


AMERICAN MEDICAL: Agrees To $9M Pact In Tier Rating Suit
--------------------------------------------------------
American Medical Security Group has agreed to pay $9 million to
settle a class-action lawsuit by Alabama and Georgia customers,
The Green Bay Press-Gazette reports.

The lawsuit, filed in 2001, involves issues related to the
Howard-based health insurance company's use of tier rating on
health insurance plans sold to individuals in the two states.
American Medical Security stopped using that rating method in
Alabama in 1999 and in Georgia in 2002. The company stopped
using tier rating altogether at the end of 2002.

Under terms of the agreement, which must be approved by a
Montgomery County Alabama circuit court judge, American Medical
Security admits no wrongdoing. "It allows us to take a
distraction from our business and resolve it," said Cliff
Bowers, vice president of corporate communications. Sam Miller,
chairman, president and chief executive officer, said the rating
methods in Alabama and Georgia were "lawful and appropriate,"
but the settlement will preclude future lawsuits by class
members in those states.

The company has said it will appeal the class action suit once
damages are assessed. Bowers said the company has adequate
reserves for the settlement.


BANK OF AMERICA: Agrees To $375M Penalty In Mutual Funds Probe
--------------------------------------------------------------
The Staff of the Securities and Exchange Commission (SEC)
announced a settlement agreement in principle with Bank of
America of securities fraud charges arising from arrangements to
permit timing in certain Nations Funds mutual funds and for
facilitating market timing and late trading by certain
customers. The agreement in principle is subject to the approval
by the Commission.

Bank of America has agreed to pay a total of $375 million,
consisting of $250 million in disgorgement and $125 million in
penalties. The money will be distributed to the mutual funds and
their shareholders that were harmed as a result of market timing
in Nations Funds and other mutual funds through Bank of America.
     
The misconduct occurred both at Bank of America's mutual fund
advisory subsidiary, Banc of America Capital Management, LLC
(BACAP), and its broker-dealer subsidiary, Banc of America
Securities, LLC (BAS). BACAP permitted the Canary hedge fund to
engage in market timing in its Nations Funds. BAS facilitated
market timing and late trading by Canary and others by trading
through a BAS broker, Theodore C. Sihpol and by trading directly
through BAS's clearing function through an electronic link.
     
As part of the settlement, Bank of America will consent to a
cease and desist order including securities fraud charges,
without admitting or denying the Commission's findings. Bank of
America has represented that it will also exit the securities
clearing business by the end of the year. Bank of America has
also agreed to implement certain election and retirement
procedures for the Nations Funds trustees that will result in
the replacement of the Nations Funds trustees within one year.  
Bank of America has also agreed to certain undertakings that
will strengthen the mutual funds' and broker-dealers' oversight
of compliance with the securities laws.

A final settlement will be subject to final documentation and,
as noted above, approval by the Commission. The Commission's
investigation is continuing.


CALIFORNIA: Fresno State Faces $10M Suit Over Equestrian Death
--------------------------------------------------------------
The parents of a Fresno State University equestrian team member
who died after falling from a horse have filed a $10 million
negligence claim against the school, saying their daughter was
put at risk by the school's lack of coaches or supervision, the
Associated Press reports.

In addition, the parents say they are "very concerned" about
apparent discrepancies in university reports about their
daughter's death. Shana Eriksson, 18, spent three days in a coma
and then died last September after her horse spooked, whirled
around and then fell on her during a trail ride with two
teammates. The university maintains the accident was unrelated
to any team activity and that Eriksson was riding at her own
risk.

Eriksson's parents accuse the university of failing "to provide
adequate coaching, instruction or supervision" of their daughter
by allowing her to go on an unsupervised trail ride.

The all-female equestrian team is the largest in the country
with close to 100 riders. At the time of Shana's accident, no
coaches had been hired. During the accident, the girls left the
barn area and headed across a road, because their usual arena
was being dragged. That was when they came across a herd of
cows, which panicked the horses. Shana's mother Karan Eriksson
said that while looking into her daughter's death, she was
"disconcerted" to find several versions of university incident
reports, some of which exclude information that could cast a
poor light on the school.

Responding to a California Public Records Act request, the
university provided hundreds of pages of internal reports to The
Associated Press. One police report says that Kasey MacFarlane,
who was riding with Eriksson at the time, told authorities, "We
were walking by the cows because they were dragging the arena
and we were told not to ride there for a couple of days."
Another draft of the same report, with the same incident number,
date and title, says only, "We were walking by the cows," and
omits the statement that they had been told not to ride in the
area.

Public Safety Director David Moll said the first report was a
draft that should never have been released. He said the report
that omitted the statement about the arena being closed was the
accurate copy. The Fresno County Coroner's office has not
released its report on Shana Eriksson's death, saying that the
investigation is still open. The claim comes on top of a recent
admission that an assistant coach injected two horses with
tranquilizers at competitions. The university said Monday it had
not violated any rules but would stop the practice anyway.

The NCAA doesn't have rules about drugging horses at equestrian
competitions. But U.S. Equestrian bans the use of tranquilizers
before competitions, as does state law. University officials
said late Monday that they had only seen an informal copy of the
claim and were not prepared to respond.


CANADIAN SUPERIOR: Faces Several Suits Over Offshore Well Claims
----------------------------------------------------------------
Canadian Superior Energy is facing several class action lawsuits
and accusations that the junior gas producer issued "false and
misleading statements" regarding its exploration well in the
North Atlantic that's now being abandoned, the Canadian Press
reports.

On Tuesday, New York law firm Abbey Gardy announced it would be
part of a suit that alleges the Calgary-based company failed to
tell investors that its Mariner I-85 test well, located 290
kilometres southeast of Halifax, "was not progressing and was
virtually dry. Late Monday, two other U.S. law firms also
announced they would be part of a class action suit against
Canadian Superior in the name of investors who held shares from
November, 2003, up to March 11.

The class action suits are just the latest in a series of bad
news hitting the company, which saw the value of its shares
plummet further Tuesday. In heavy trading of nearly 3.8 million
shares on the Toronto stock market, Canadian Superior stock fell
a further 52 cents to $1.68. Shares in the company have plunged
more than 65 per cent since hitting a 52-week high of $4.88 on
March 1, following a series of positive press releases regarding
ongoing drilling results from the Mariner well.

On Monday, Canadian Superior President Greg Noval said the
decision to abandon the Mariner well came from Houston-based
partner El Paso Corp., which had put up most of the $30 million
to drill the exploration well. El Paso refused to elaborate
further Monday on why it gave up on Mariner, reiterating only an
earlier comment that it elected not to participate in the flow
tests of the Mariner well.

Noval said that his company believed Mariner had discovered
several zones of natural gas, but declined to provide specifics.
He also said Canadian Superior's large land holdings in offshore
Nova Scotia were likely to contain more gas deposits and that
the company intended to drill more exploration wells shortly
with a new partner. But Canadian Superior would not answer any
questions from analysts on the call.

The law firm quotes a Canadian Superior news release from Feb.
23, where the company claims the Mariner well will set a "new
low-cost, best-value record for modern drilling offshore Nova
Scotia." Abbey Gardy also alleges in its release that Noval sold
25 per cent of his stock in Canadian Superior at "artificially
inflated prices."

None of the accusations have been proven in court and Canadian
Superior officials could not be reached for comment Tuesday.


CHARLES SCHWAB: Faces Securities Fraud Suit in S.D. New York
------------------------------------------------------------
Between November 2003 and January 2004, five purported class
action lawsuits were filed against CSC, USTC, U.S. Trust NY,
Charles Schwab Corporation, and the Excelsior Funds in
connection with alleged market-timing in the Excelsior Funds.

The lawsuits seek an unspecified amount of monetary damages on
behalf of a putative class of individuals who bought, sold, or
held shares in the Excelsior Funds between 1998 and 2003.  The
lawsuits allege that the defendants breached their fiduciary
duties and violated various federal securities laws, including
the Securities Act of 1933, the Securities Exchange Act of 1934
and the Investment Company Act of 1940, by permitting market-
timing in the Excelsior Funds and by failing to disclose such
timing in the fund prospectuses.  

Three of the lawsuits are pending in federal courts in the
Southern District of New York and two of the lawsuits are
pending in different federal courts in California, according to
Charles Schwab Corporation in its latest SEC disclosure.

For more information, contact Charles Schwab Corporation by
Mail: 120 Kearny Street, San Francisco CA 94104 or by Phone:
(415) 627-7000


CHARLES SCHWAB: Sued in Colorado for Engaging in Market-timing
--------------------------------------------------------------
In November 2003, the Charles Schwab Trust Company (CSTC) was
named in two lawsuits filed in U.S. District Court in the
Northern District of Colorado as a result of its role as
directed trustee of the retirement plans for employees of the
Janus Capital Group (Janus).

The lawsuits, which also name Janus and several of its officers
and directors, are brought on behalf of a putative class of
Janus employees.  The lawsuits allege that CSTC knew or should
have known that there was market-timing and/or late trading in
the Janus mutual funds and breached its duties as trustee under
the Employee Retirement Income Security Act by permitting Janus
employees to invest in Janus mutual funds or Janus common stock
in their retirement plans.  The lawsuits seek an unspecified
amount of compensatory damages in the amount of the losses
suffered by the retirement plans to be allocated among the
participants' individual accounts.  

"CSTC has a contract with Janus that requires Janus to indemnify
CSTC for any expenses associated with the litigation," Charles
Schwab said in its latest SEC filing.  "The defendants intend to
vigorously defend against the lawsuits.

For more information, contact Charles Schwab Corporation by
Mail: 120 Kearny Street, San Francisco CA 94104 or by Phone:
(415) 627-7000


CHARLES SCHWAB: Settles Suit in California for Undisclosed Sum
--------------------------------------------------------------
Three purported class action complaints and a number of related
individual cases were filed in 2001 against U.S. Trust NY, a
subsidiary of Charles Schwab Corporation and other defendants.  
In some of these cases, U.S. Trust NA was also named as a
defendant.  With the exception of a small number of individual
cases pending in state court in Montana, the cases were all
consolidated in a single proceeding pending in California state
court in Los Angeles.  

The plaintiffs in all of these cases are former personal injury
plaintiffs (Payees) who are entitled to future payments under
"structured settlement" agreements.  The settlement payments are
obligations of Stanwich Financial Services Corp. (Stanwich), as
Trustor of certain trusts, and Stanwich defaulted on certain of
those obligations.  U.S. Trust NA served as Trustee of the
trusts from approximately December 1992 to March 1994, and U.S.
Trust NY served as Trustee from approximately September 1998
until approximately April 2001.  At some time during the period
from March 1994 to September 1998, while an unrelated trust
company was the Trustee of the trusts, the U.S. Treasury
securities held by the trusts were pledged as collateral for a
loan or loans and then lost through foreclosure.  In the
complaints, the plaintiffs alleged that, as Trustee during their
respective tenures, U.S. Trust NY and U.S. Trust NA owed certain
duties to the Payees, and breached those duties in various ways.  

The plaintiffs in these cases sought unspecified compensatory
damages, punitive damages and other relief.  In October 2003,
U.S. Trust NY and U.S. Trust NA reached a settlement with the
plaintiffs.  Under the terms of this settlement, plaintiffs
released U.S. Trust NY and U.S. Trust NA of all liability in
exchange for a payment which, other than an immaterial
deductible, was fully funded by U.S. Trust's insurance carrier.  

For more information, contact Charles Schwab Corporation by
Mail: 120 Kearny Street, San Francisco CA 94104 or by Phone:
(415) 627-7000


CHARLES SCHWAB: Faces Raps Related to Former Corporate Trust Biz
----------------------------------------------------------------
U.S. Trust Company of Texas, N.A. (U.S. Trust Texas), a
subsidiary of Charles Schwab Corporation, was indenture trustee
for various offerings of approximately $130 million in municipal
bonds that were used to finance the development of healthcare
facilities by the Heritage entities (the Heritage Bonds), which
subsequently went into default.  

Between October 2001 and March 2003, a total of four individual
and five class action lawsuits have been filed against U.S.
Trust Texas and other defendants, including, in some instances,
U.S. Trust Corporation.  The class actions and two of the
individual actions have been consolidated in the United States
District Court for the Central District of California.  One
individual action is pending in California state court and one
individual action is pending in Texas state court.  In each of
these actions, plaintiffs seek to hold the defendants liable for
losses that the plaintiffs sustained in connection with the
defaults of the Heritage Bond Offerings.

"Although USTC sold its Corporate Trust business in 2001, under
the sale agreement, USTC retains responsibility for certain
litigation, including these cases," Charles Schwab said in a
recent SEC disclosure.  "In the complaints, the plaintiffs
allege that, as indenture trustee, U.S. Trust Texas breached
certain duties owed to the plaintiffs.  In the consolidated
class action, the plaintiffs and putative class seek an
unspecified amount of compensatory damages, punitive damages,
and other relief."

In one of the federal individual actions (Betker Action),
plaintiffs seek unspecified compensatory damages, punitive
damages, and other relief.  In the other federal individual
action (Heartland Action), the representative plaintiff seeks
compensatory damages of approximately $5 million, punitive
damages, and other relief.  In the California state court action  
(Talley Action), plaintiff seeks unspecified compensatory
damages, punitive damages, and other relief.  

In the Texas state court action (Dye Action), plaintiffs seek
compensatory damages in excess of $20 million, punitive damages,
and other relief.  U.S. Trust Texas and USTC have answered the
complaints and brought cross-claims against certain third
parties whose actions they believe caused or contributed to the
default of the bonds.  U.S. Trust Texas and USTC intend to
defend the cases vigorously.

For more information, contact Charles Schwab Corporation by
Mail: 120 Kearny Street, San Francisco CA 94104 or by Phone:
(415) 627-7000


CONSTAR INTERNATIONAL INC: Faces Two IPO Lawsuits In PA Court
-------------------------------------------------------------
The Company and certain of its present directors have been named
as defendants in two putative securities class action lawsuits
filed in the United Sates District Court for the Eastern
District of Pennsylvania, styled:

     (1) Parkside Capital LLC v. Constar International
         Inc. et al., filed on September 5, 2003, and

     (2) Walter Frejek v. Constar International Inc. et al.,
         filed on September 15, 2003.

The complaints generally allege that the registration statement
and prospectus for the Company's initial public offering (IPO)
of its common stock on November 14, 2002 contained material
misrepresentations and/or omissions regarding the business and
financial results of the Company and included false financial
results due to the Company's failure to timely take an
impairment charge against the goodwill in the Company's
financial statements.

Plaintiffs claim that defendants in these lawsuits violated
Section 11 and Section 15 of the Securities Act of 1933.
Plaintiffs seek class action certification and an award of
damages and litigation costs and expenses. A lead plaintiff has
not yet been designated. The Company believes the claims are
without merit.


CONSTAR INTERNATIONAL INC: PVC Suit Discovery Begins In FL Court
----------------------------------------------------------------
Currently in the discovery phase is a lawsuit filed in the Ninth
Judicial Circuit of Florida on January 9, 2001, against the
Company, by former and current employees of its Orlando, Florida
facility seeking unspecified monetary damages.

The lawsuit alleges bodily injury as a result of exposure to
polyvinyl chloride (PVC) during the manufacture of plastic
bottles during the 1970's, 1980's and into the mid-1990's. The
PVC manufacturers and manufacturers of the manufacturing
equipment are also defendants.

The Company believes the claims are without merit and is
aggressively defending against the claims. A trial as to only
one of the plaintiffs is currently scheduled to commence in
August 2004.


CORRECTIONS CORP. OF AMERICA: Reaches Pact In Meal Break Suit
-------------------------------------------------------------
The Company has reached a settlement agreement in regards a
putative class action lawsuit filed in the Superior Court of
California for the County of San Diego against it, styled
Sanchez v. Corrections Corporation of America.

The lawsuit was brought by a former employee on his own behalf
and on behalf of other former and current similarly-situated
employees, alleging that the Company did not comply with
certain wage and hour laws and regulations primarily concerning
meal periods and other specified breaks, which laws and
regulations are imposed by the State of California pursuant to
the California Labor Code and Business and Professions Code.

Plaintiff was seeking damages on his behalf and the alleged
class for such violations as well as certain penalties allegedly
due and owing as a consequence of such alleged violations.


CROMPTON CORP: To Pay $50M Penalty In Rubber Additives Scheme
-------------------------------------------------------------
Middlebury chemicals manufacturer Crompton Corp. has agreed to
pay $50 million in fines for its role in an international
conspiracy to fix prices in the rubber additives market, the
Associated Press reports.

Crompton agreed to plead guilty in U.S. District Court in San
Francisco on Monday to participating in the scheme. The company
has also agreed to pay $7 million in fines as part of a related
plea deal with Canadian prosecutors, officials said. Company
officials say they have fired people involved in the scheme, but
would not say how many people were terminated or how high up in
the company the conspiracy spread. Crompton is also the subject
of an investigation by the European Commission, the company
said. The plea deal must be approved by a federal judge.
Crompton has agreed to cooperate in the ongoing federal
investigation.

During 2003, the company had $191 million in sales of rubber
processing chemicals. The additives used to improve the strength
and durability of rubber products. In a Securities and Exchange
Commission filing Tuesday, the company said it does not expect
the plea deal to have an adverse effect on its financial
position. The ongoing investigations and potential for civil
liability, however, "may have a material adverse effect." The
company's stock was trading down 10 cents at $6.59 Tuesday on
the New York Stock Exchange.


CV THERAPUETICS INC: Faces Derivative Stock Suit In CA Court
------------------------------------------------------------
The Company's directors and certain of its officers have been
named as defendants in a derivative lawsuit filed in August 2003
in California Superior Court, Santa Clara County. The lawsuit is
styled Kangos v. Lange, et al.

The plaintiff in this action is one of our stockholders who
seeks to bring derivative claims on behalf of CV Therapeutics
against the defendants. The lawsuit alleges breaches of
fiduciary duty and related claims based on purportedly
misleading statements concerning our New Drug Application for
Ranexa.  


DELTA AIRLINES INC: Named As Defendant In Travel Agency Suit  
------------------------------------------------------------
Currently pending in the U.S. District Court for the Southern
District of New York is a complaint brought against the Company,
American, Continental, Northwest, and United Airlines, on behalf
of an alleged nationwide class of U.S. travel agents.

The lawsuit, styled Power Travel International, Inc., et al. v.
American Airlines, et al., alleges that the defendants breached
their contracts with and their duties of good faith and fair
dealing to U.S. travel agencies when these airlines discontinued
the payment of published base commissions to U.S. travel
agencies at various times beginning in March 2002. The suit
seeks damages and declaratory support.

The original purported class action was filed in August 2002 in
New York state court against, and included JetBlue Airlines as
defendant. JetBlue has since been dismissed from the case, and
the remaining defendants removed the action to present Court.


EXXON CORPORATION: AC Upholds $1.3 Billion Jury Verdict In Case
---------------------------------------------------------------
Dealing a fatal blow to Exxon Corporation's efforts to avoid
paying out on a $1.3 billion jury verdict won by a class of
Exxon service station dealers, the Eleventh Circuit Court of
Appeals in Atlanta has denied Exxon Corporation's request that
it reconsider a June 2003 ruling in favor of the dealers,
PRNewswire reports.

As a result of the March 15 ruling, the thousands of dealers who
file claims by the deadline may be able to begin receiving
payment as early as September 2004. "Exxon's bad faith caused
much hardship to Exxon dealers and their families," said Stearns
Weaver Miller partner Eugene Stearns, an attorney for the dealer
class. "We will be working hard to get the dealers' money
returned to them, with interest, as soon as possible."

At a February 2001 trial in Miami federal court, the class
proved that Exxon acted in bad faith by overcharging its dealers
for the wholesale price of motor fuel, and then fraudulently
concealed the overcharge. The average dealer recovery is
expected to be approximately $130,000.

The class consists of the approximately 10,000 current or former
direct- served dealers in 34 states and the District of Columbia
who owned or operated an Exxon service station between March 1,
1983 and August 28, 1994, and were party to one or more Sales
Agreements with Exxon Corporation. The class also includes
anyone who purchased, inherited, or otherwise acquired the
rights of an Exxon dealer. To date, approximately 2,800 claims
have been filed.


FEDERATED INVESTORS INC: Named In 11 Stock, Derivatives Suits
-------------------------------------------------------------
During the period October 2003 through February 2004, the
Company was named as a defendant in 11 class action or
derivative lawsuits filed on behalf of certain alleged
shareholders in various Federated-sponsored mutual funds.

Eight of these actions are pending in the United States District
Court for the Western District of Pennsylvania, one is pending
in the United States District Court for the Southern District of
New York, one is pending in the United States District Court for
the Central District of California and one is pending in the
United States District Court for the Middle District of Florida.

The Company is awaiting a court decision as to the consolidation
of these cases and their proper venue. The cases generally
involve claims arising from allegations that Federated illegally
permitted improper trading practices including market timing and
late trading in concert with certain institutional traders,
which allegedly caused injury to the mutual fund shareholders.


FIDELITY NATIONAL: Faces Consolidated Mortgage Suit in NY Court
---------------------------------------------------------------
Fidelity National Financial, Inc., faces a consolidated class
action complaint in New York court, alleging that the it failed
to provide notice of premium discounts to consumers refinancing
their mortgages, and failed to give discounts in refinancing
transactions in violation of the filed rates.

The action seeks refunds of the premiums charged and punitive
damages. Similar allegations have been made in class actions
filed in Minnesota, Ohio and Pennsylvania. Two class actions,
one in California and one in Michigan allege that the Company
violated the Real Estate Settlement Procedures Act and state law
by giving favorable discounts or rates to builders and
developers.

The actions seek refunds of the premiums charged and additional
damages. The Company denies the allegations.

FIDELITY NATIONAL: Faces Real Estate Charge Lawsuit in NJ Court
---------------------------------------------------------------
Fidelity National Financial, Inc., is named as defendant in a
class action complaint filed in New Jersey Court for imposing
improper charges in closing real estate transactions.

The complaint alleges that the company has charged twice for
fees to record satisfactions of mortgages, and charged for
satisfactions that were not recorded. Two other class actions
pending in Indiana allege the Company overcharged recording
fees. A class action in Pennsylvania alleges overcharges of
notary fees. Another in Illinois alleges an improper markup of
courier fees, and although the trial court recently dismissed
this case, the plaintiff may appeal.

The actions seek refunds of the charges. The Company says it
will fight these actions.


FLEETBOSTON FINANCIAL: Reaches SEC Pact On Civil Fraud Charges    
--------------------------------------------------------------
The Securities and Exchange Commission's (SEC) Division of
Enforcement announced that it has reached an agreement in
principle regarding its market timing lawsuit against two
subsidiaries of FleetBoston Financial Corporation - Columbia
Management Advisors, Inc. and Columbia Funds Distributor, Inc.   

The Commission alleged in a Feb.24, 2004, civil complaint that
these two entities allowed certain preferred mutual fund    
customers to engage in short-term and excessive trading, while
at the same time representing publicly that such trading was
prohibited. Columbia Advisors and Columbia Distributor have
agreed, among other things, to pay $140 million in disgorgement
and penalties, which will be used to reimburse injured fund
shareholders, and to undertake several compliance and mutual
fund governance reforms. Final settlement is contingent upon
review and approval by the Commission.

Columbia Advisors and Columbia Distributor have agreed to:
     
     (1) Payment of $70 million in disgorgement.
     
     (2) Payment of $70 million in civil penalties.
     
     (3) An order requiring Columbia Advisors and Columbia
         Distributor to cease and desist from violations of the
         antifraud and other provisions of the federal
         securities laws.
     
     (4) Governance changes designed to maintain the
         independence of the fund boards of trustees and ensure
         the Columbia defendants' compliance with securities
         laws and their fiduciary duties.
     
     (5) Retention of an independent consultant to review
         compliance policies and procedures of Columbia Advisors
         and Columbia Distributor, and recommend changes or
         enhancements, which must be implemented by both
         entities.
     
     (6) Continued cooperation with the SEC staff in its ongoing
         investigation.
          
The Commission's complaint, filed in federal court in  Boston  
alleged that, from at least 1998 through 2003, Columbia
Distributor secretly entered  into arrangements with at least
nine companies and  individuals allowing them to engage in
frequent short-term trading in at least seven Columbia funds.  
The complaint alleged that, in connection with certain of the
arrangements, Columbia Distributor and Columbia Advisors
accepted so-called  "sticky assets"-long-term investments that
were to remain in place in return for allowing the investors to
actively trade in the funds.

The complaint further alleged that Columbia Advisors knew and
approved of all but one of the arrangements and allowed them to
continue despite knowing such short-term trading could be
detrimental to long-term shareholders in the funds. The
complaint alleged that both defendants acted improperly in
entering and accepting the  short-term trading arrangements,
because they were contrary to disclosures made in the
prospectuses used to sell the mutual funds.
     
Columbia Advisors is a registered investment advisor that  
manages Columbia mutual funds, and Columbia Distributor is a
registered  broker-dealer that is the principal underwriter
responsible for selling the funds. The actions reflect the  
coordinated efforts of the Securities and Exchange Commission
and the New York Attorney General's Office. The Commission's
investigation is continuing.


GANNETT CO INC: Employees File Pension Plan Lawsuit In CO Court
---------------------------------------------------------------
On December 31, 2003, two employees of the company's television
station KUSA in Denver filed a purported class action lawsuit in
the U.S. District Court for the District of Colorado against the
Company and the Gannett Retirement Plan (Plan), on behalf of
themselves and other similarly situated individuals who
participated in the Plan after Jan. 1, 1998, the date that
certain amendments to the Plan took effect.

The plaintiffs allege, among other things, that the current
pension plan formula adopted in that amendment violated the age
discrimination accrual provisions of the Employee Retirement
Income Security Act. The plaintiffs seek to have their post-1997
benefits recalculated and seek other equitable relief. Gannett
believes that it has valid defenses to the issues raised in the
complaint and will defend itself vigorously.

Due to the uncertainties of judicial determinations, however, it
is not possible at this time to predict the ultimate outcome of
this matter with respect to liability or damages, if any.


HANGER ORTHOPEDIC GROUP: AC Affirms Dismissal Of Securities Suit
----------------------------------------------------------------
On January 5, 2004, the United States Court of Appeals for the
Fourth Circuit affirmed its dismissal of a class action lawsuit
filed against the Company in the United States District Court
for the District of Maryland, on behalf of all purchasers of our
common stock from November 8, 1999 through and including January
6, 2000.

The lawsuit, styled Norman Ottmann v. Hanger Orthopedic Group,
Inc., Ivan R. Sabel and Richard A. Stein, alleges that the
defendants violated Section 10(b) and 20(a) of the Securities
Exchange Act of 1934 and through these material
misrepresentations, artificially inflated the price of our
common stock.

The Class Action Lawsuit was initially dismissed by the District
Court for failure to comply with statutory requirements but an
appeal was subsequently filed by the plaintiff.


HEALTHSOUTH: Facing Annual Report Filing Delay Amid Probe
---------------------------------------------------------
According to a regulatory filing Tuesday, HealthSouth Corp.,
which is under investigation for its accounting practices, will
miss the deadline to file its annual report, the Associated
Press reports.

The Birmingham, AL-based operator of rehabilitation, surgery and
other health-care centers expects to file its 2003 report in the
first quarter of 2005, according to the filing with the
Securities and Exchange Commission. The SEC and the Department
of Justice are investigating HealthSouth's financial reporting,
including the accuracy of the company's previously filed
financial statements. HealthSouth has said its previous
financial statements are no longer reliable and has hired the
accounting firm PricewaterhouseCoopers LLP to review prior
statements.

In January, HealthSouth said the review is substantially
complete and its special audit review committee is preparing a
report on the forensic review. HealthSouth said it is unable to
determine the extent of any change in its results of operations
while it completes its 2003 financial statements.

HealthSouth founder Richard M. Scrushy was ousted in 2003 as the
company's chairman and chief executive after a fraud
investigation became public. Scrushy, who faces 85 criminal
counts for his alleged role in the accounting fraud, is
scheduled to go to trial in August. Fifteen of Scrushy's former
top finance and accounting executives have pleaded guilty in the
scandal, in which assets and earnings allegedly were inflated
over a number of years in an effort to meet analysts'
expectations. Scrushy's lawyers say he didn't know about the
estimated $3 billion fraud at the health-care company. The
initial federal raid of HealthSouth occurred in March 2003.


J.M. SMUCKER: '100% Fruit' Customers File Suit to Demand Refund
---------------------------------------------------------------
J.M. Smucker Company is a defendant in 17 class action lawsuits
in ten different states related to its Simply 100% Fruit
product.  The Dickinson Family, Inc., a wholly owned subsidiary
of the Company, has two class action lawsuits in two different
states related to its Dickinson 100% Fruit product.

The complaints in these lawsuits generally allege violations of
state consumer fraud acts, unjust enrichment and breach of an
express warranty based on the allegation that Simply 100% Fruit
does not contain 100 percent fruit and it does not contain 100
percent of the fruit designated as the flavor (e.g.,
strawberry).  The complaints generally seek damages in the form
of either a refund of the purchase price or the difference
between the price of Simply 100% Fruit and lower priced Smucker
products.

"The Company believes these suits are without merit," the SEC
disclosure of J.M. Smucker states.

For more information, contact J.M. Smucker Co. by Mail:
Strawberry LN, Orrville OH 44667 or by Phone: (330) 682-3000


LEUCADIA NATIONAL CORP: Faces Several Cable Consent Lawsuits
------------------------------------------------------------
A number of suits attempting to achieve class action status seek
damages and other relief from Leucadia National
Corporation based on allegations that the Company installed
portions of its fiber-optic cable without all
necessary landowner consents.  

These allegations relate to the use of rights of way licensed by
railroads, state departments of transportation and others   
controlling pre-existing right-of-way corridors. The putative
members of the class in each suit are those owning the land
underlying or adjoining the right-of-way corridors.  

Similar actions have been filed against all major carriers with
fiber-optic networks. It is likely that additional actions will
be filed. The Company believes it obtained sufficient rights to
install its cable.  It also believes that the class action suits
are subject to challenge on procedural grounds.


LEUCADIA NATIONAL CORP: Seeks To Settle Railroad Rights Claims
--------------------------------------------------------------
Leucadia National Corporation and other major carriers are
seeking to settle the class action claims relating to the
railroad rights of way through an agreed class action.  

These companies initially sought approval of a settlement in a
case titled Zografos et al. vs. Qwest Communications Corp., et
al., filed in the U.S. District Court for the District of Oregon
on January 31, 2002. On July 12, 2002, the Oregon Court
dismissed the action.  Thereafter, on September 4, 2002, an
existing case titled Smith, et al., vs. Sprint, et al., pending
in the U.S. District Court for the Northern District of
Illinois, was amended to join the Company and two other
telecommunications companies as defendants.  

On July 25, 2003, the judge in this case issued an order
preliminarily approving a proposed settlement agreement and
issued an injunction, which stayed other putative class action
railroad rights of way cases against the Company.  Two of the
intervening plaintiffs filed appeals, which were consolidated.

If this settlement withstands potential challenges by
plaintiffs' counsel, it will settle the majority of the
putative nationwide and statewide class actions related to the
railroad right-of-way  claims.  Based on the Company's estimate
of a likely settlement range, the Company has accrued $16.6
million as of November 5, 2003.


MADDEN STEVEN LTD: Reaches Tentative Pact In NY Securities Suit
---------------------------------------------------------------
Subject to approval by the Courts, a tentative settlement has
been reached in a twice amended consolidated class action
commenced in the United States District Court for the Eastern
District of New York, on behalf of themselves and all other
purchasers of the Company's common stock during the period June
21, 1997 through June 20, 2000, against the Company, and the
following defendants:

     (1) Steven Madden,

     (2) Rhonda J. Brown, and

     (3) Arvind Dharia.

It principally alleges that the Company and the individual
defendants violated sections 10(b) and 20(a) of the Securities
Exchange Act of 1934 and Rule 10b-5 promulgated under the 1934
Act by issuing false and misleading statements, and failing to
disclose material adverse information, generally relating to
matters arising from Mr. Madden's June 2000 indictment.

On December 8, 2000, the Court consolidated the eight original
complaints, appointed Process Engineering, Inc., Michael Fasci
and Mark and Libby Adams as lead plaintiffs and approved their
selection of lead counsel. On February 26, 2001, Plaintiffs
served a Consolidated Amended Complaint. On or about October 31,
2001, plaintiffs filed a Second Consolidated Amended Class
Action Complaint. On November 30, 2001, all of the defendants
served motions to dismiss the Consolidated Amended Complaint.
The motions were fully briefed on January 14, 2002.

These original individual complaints were captioned: Wilner v.
Steven Madden, Ltd., et al., 00 CV 3676 (filed June 21, 2000);
Connor v. Steven Madden, et al., 00 CV 3709 (filed June 22,
2000); Blumenthal v. Steven Madden, Ltd., et al., 00 CV 3709
(filed June 23, 2000); Curry v. Steven Madden, Ltd., et al., 00
CV 3766 (filed June 26, 2000); Dempster v. Steven Madden Ltd.,
et al., 00 CV 3702 (filed June 30, 2000); Salafia v. Steven
Madden, Ltd., et al., 00 CV 4289 (filed July 24, 2000); Fahey v.
Steven Madden, Ltd., et al., 00 CV 4712 (filed August 11, 2000);
Process Engineering Services, Inc. v. Steven Madden, Ltd., et
al., 00 CV 5002 (filed August 22, 2000).


MARYLAND: Crews Discover Last Missing Body In Water Taxi Mishap
---------------------------------------------------------------
After an arduous search in cold, dark waters Monday, divers
recovered the body of Corinne J. Schillings, 26, of Alexandria,
Va., the last missing passenger from a water taxi overturned
in a sudden thunderstorm March 6 near Fort McHenry, the
Associated Press reports.

"We are very grateful for the recovery of Corinne and look
forward to bringing her home," Schillings' family said in a
statement. Twenty-five people were thrown into the cold water as
winds gusted up to 55 mph. Two people died that day and two
bodies were recovered Sunday, including Andrew Roccella, the man
Schillings planned to marry. Eight-year-old Sarah Bentrem
remained in critical condition Monday. She is the only victim
still in the hospital.

Divers had to go into the water nearly 30 times before locating
the bodies because of the cold and poor visibility. They had to
feel their way through 3 feet of silt in waters 60 feet deep.
The break in the search occurred Friday when crews discovered
the roof of the water taxi. They did not raise the roof but
concentrated their search in its vicinity. All three bodies were
found with about 100 meters of where the water taxi's roof was
found, said Baltimore Fire Department Chief William Goodwin.
The fire department had between eight and 10 divers at the scene
Monday but used them sparingly because of the temperature of the
water, which was in the 30s.


MICROSOFT: Sources Say CEO In Talks To Stem EU Anti-Trust Case
--------------------------------------------------------------
According to sources familiar with the matter, Microsoft Corp.
chief executive Steve Ballmer flew to Brussels for 11th-hour
talks with European Union officials Tuesday, just a week ahead
of a final decision on the long-running antitrust case, the
Associated Press reports.

It was not immediately clear whether Ballmer was meeting with EU
Competition Commissioner Mario Monti personally or with his
chief of staff. The sources spoke on condition of anonymity.
EU and Microsoft spokespeople declined to confirm any meeting
was underway. It was first reported on the Web site of the
London-based Financial Times. The meeting comes a day after
antitrust advisers from the 15 EU countries approved the
Commission's draft ruling that the software giant had broken
antitrust law. A final decision is expected on March 24.

Sources have said the draft ruling would force Microsoft to
strip its Windows computer operating system of a lucrative
component and make other changes. Microsoft hopes to avert a
far-reaching order that would result in a fine of up to $3
billion and force the company to strip Media Player from its
flagship operating system in Europe - giving rival products from
competitors including RealNetworks Inc. a better chance of
getting on consumer desktops. The EU draft ruling would also
compel Microsoft to release more Windows programming code in the
interests of improving "interoperability" with competing
networking software made by Sun Microsystems Inc. and others.

Given the size of the EU market, such an order could have global
implications for Microsoft, which argues that its practice of
continually adding new features to Windows benefits consumers.
A negative decision would be the biggest setback for Microsoft
since a U.S. judge found the company guilty of antitrust
violations involving Internet browsers in 2000. Microsoft
settled the case with the Bush administration a year later,
allowing it to keep its Internet Explorer in Windows with some
conditions. Sources say the E.U.'s draft ruling similarly finds
Microsoft abused its monopoly in operating software to gain
share in markets for digital media players and low-end server
software.


MERRILL LYNCH: Ex-Broker To Expect Ruling In Work-Bias Case Soon
----------------------------------------------------------------
Hydie Sumner, one of the remaining 50 or so registered reps who
sued Merrill Lynch for gender discrimination, is expected to
hear a decision from an arbitration panel within the next few
weeks, The Registered Representative reports.

Among remedies to her claims proposed by her lawyers - a
monetary award being the most obvious choice - is one very
surprising one: that Sumner be reinstated as a manager at
Merrill Lynch. Sumner's attorney, Mary Stowell, of Stowell &
Friedman of Chicago, deems a return to Merrill an unlikely
possibility, because Sumner already works for another brokerage
firm. "My best guess is that it's unlikely" that the panel would
include such a move in a settlement, Stowell says. However, she
says, "I don't want to say it's only a legal remedy and nothing
else." Indeed, Sumner, a rep at Merrill Lynch from 1991 to 1997,
has sounded decidedly un-legalistic in her statements about the
matter. She declined to comment on the record for this article,
but was quoted in the San Antonio Express-News as saying her
"experience and knowledge can help make a difference" at
Merrill.

Sumner's hearings began in October and continued through
December. Final briefs related to the case were due to the
arbitration panel in mid-February. Fewer than 50 cases against
Merrill are outstanding from an original 900-member class action
suit against the firm. Most of those were settled in the late
1990s; Stowell & Friedman represent the majority of the
remaining litigants.


MOTOROLA INC: Awaits Ruling On Motion To Dismiss DC Stock Suit
--------------------------------------------------------------
The Company awaits a ruling on its motion to dismiss a
consolidated securities complaint pending in the District of
Columbia arising out of alleged misrepresentations or omissions
regarding the Iridium satellite communications business.

On March 15, 2001, the federal court judge consolidated the
various securities cases under Freeland v. Iridium World
Communications, Inc., et al., originally filed on April 22,
1999. The plaintiffs seek an unspecified amount of damages.


MURPHY OIL CORPORATION: Faces Several ROSE Fire Liability Suits
---------------------------------------------------------------
The Company faces 17 class action lawsuits in relation to the
June 10, 2003 fire that severely damaged the Residual Oil
Supercritical Extraction (ROSE) unit at its Meraux, Louisiana
refinery. The ROSE unit recovers feedstock from the heavy fuel
oil stream for conversion into gasoline and diesel.

The lawsuits, brought on behalf of area residents, have been
administratively consolidated into a single legal action. The
Company maintains liability insurance that covers such matters,
and it recorded the applicable insurance deductible as an
expense in 2003. Accordingly, the Company does not believe that
the ultimate resolution of the class action litigation will have
a material adverse effect on its financial condition.   


NEW JERSEY: Bridgeton Police Join Lawsuit Against Vest Maker
------------------------------------------------------------
The city's police department is among hundreds across the
country involved in a class-action lawsuit contending that
bulletproof vests made by Second Chance Body Armor were unsafe,
The Daily Journal reports.

The city's newly appointed police chief, Jeffrey Wentz, said
Bridgeton switched to American Body Armor for all future vest
purchases after being told of the suit in October. "We don't
want anyone out there with defective equipment," he said.
But Wentz said he was unsure how many officers in his 64-member
department were using Second Chance vests issued previously.
Routinely, vests are replaced at the end of a five-year warranty
period, or earlier if they show signs of excessive wear, he
said.

Two Vineland attorneys, Daniel C. Hoffman and Michael L. Testa,
are heading the suit in New Jersey. Vineland and Millville, the
other two cities in Cumberland County with their own police
forces, don't use Second Chance vests. "One of the contentions
is that when the fiber gets wet, it breaks down and a bullet can
go through it," Hoffman said. A police officer in Oceanside,
Calif., was killed in 2002 when two 9-mm bullets penetrated his
vest. In the same month, a .40-caliber bullet pierced a vest
worn by an officer in Forest Hills, Pa., who survived.

Also named in the suit is Toyobo, a Japanese company that
manufacturers Zylon, a fiber used in the Second Chance Body
Armor. The companies "knew or they should have known" about the
dangers and failures of the vests, Testa said. Founded in 1972,
Second Chance grew to be the nation's largest supplier of
bulletproof vests to law enforcement agencies. The Central Lake,
Mich.-based company has denied any wrongdoing, but last year
stopped making the two styles that are in question.


NOVELLUS SYSTEMS INC: Reaches Proposed Pact In Compensation Suit
----------------------------------------------------------------
Pending court approval, the Company has reached a proposed
settlement in relation to two lawsuit seeking collective and/or
class action status for field service engineers who work for
Novellus, alleging that field service engineers are entitled to
compensatory damages in the form of overtime pay, liquidated
damages, interest and attorneys fees and costs. The lawsuit are
filed on behalf of:

     (1) Thomas Graziani, et al., in the U.S. District Court for
         the District of Oregon, and

     (2) David Robinson, et al., in the U.S. District Court for
         the Northern District of California, San Jose Division.

At a mediation held on March 1, 2004, the parties to both
lawsuits agreed that the settlement be documented on or before
April 2, 2004. As of the date of this Annual Report on Form 10-
K, there is no written agreement binding the parties. Court  
Approval is expected to be sought in the second quarter of 2004.


OSTEOTECH INC: Discovery Commences In CBPC Violations Lawsuit
-------------------------------------------------------------
The Company is a defendant, with several other organizations, in
three actions currently in discovery in the Superior Court for
the State of California, Los Angeles County.

One of the suits seeks class action status and initially alleged
causes of action based on a violation of the California Business
and Professional Code (CBPC) Section 17200, as well as a number
of common law causes of action, including negligence, deceit,
and intentional and negligent infliction of emotional distress.
Through dismissals, either by the Court or voluntarily by
plaintiffs, only the California Business and Professional Code
claims, which are based on the allegation that defendants are
engaging in the activity of buying or selling organs or tissue
for valuable consideration or profit, and certain negligence
claims remain with respect to the actions.

Plaintiffs are seeking class action status and injunctive relief
and "restitution" with respect to their California Business and
Professional Code claims, and seek damages in an unspecified
amount. Plaintiffs filed a motion for leave to file a Fourth
Amended Complaint to allow the adding of two additional class
representatives and to make other changes to the complaint,
which motion was denied without prejudice on February 3, 2003.

Plaintiffs' counsel have recently indicated that, rather than
seek to amend the Regner complaint, they plan to file three new
actions on behalf of three plaintiffs alleging claims similar to
those asserted in the Regner case. The Company expects the court
to set a schedule for a class certification motion in the near
future.


PACKAGING CORP. OF AMERICA: Linerboard Pact Hearing Scheduled  
-------------------------------------------------------------
A hearing is set this month to discuss the proposed settlement
agreement reached in two consolidated class action complaints
against the Company, alleging a civil violation of Section1 of
the Sherman Act. The suits, then captioned Winoff Industries,
Inc. v. Stone Container Corporation, and General Refractories
Co. v. Gaylord Container Corporation, name the Company as a
defendant based solely on the allegation that it is a successor
to the interests of Tenneco Packaging Inc. and Tenneco Inc.,
both of which were also named as defendants in the suits, along
with nine other linerboard and corrugated sheet manufacturers.

The complaints allege that the defendants, during the period
October 1, 1993 through November 30, 1995, conspired to limit
the supply of linerboard, and that the purpose and effect of
the alleged conspiracy was to artificially increase prices of
corrugated containers and corrugated sheets, respectively. On
November 3, 2003, Pactiv (formerly known as Tenneco Packaging),
Tenneco and the Company entered into an agreement to settle the
class action lawsuits.

The settlement agreement, which is subject to court approval,
provides for a full release of all claims against the Company as
a result of the class action lawsuits.

Approximately 160 plaintiffs opted out of the class and together
filed about ten direct action complaints in various federal
courts across the country. All of the opt-out complaints make
allegations against the defendants, including the Company,
substantially similar to those made in the class actions.

The settlement agreement does not cover these direct action
cases. These actions have almost all been consolidated as In re
Linerboard, for pretrial purposes. Fact discovery is proceeding
and is currently set to close September 30, 2004.


PMA CAPITAL CORPORATION: Faces Purported Stock Suits in PA Court
----------------------------------------------------------------
The Company and certain of its directors and key executive
officers are defendants in several purported class actions that
were filed in 2003 in the United States District Court for the
Eastern District of Pennsylvania by alleged purchasers of the
Company's Class A Common stock, 4.25% Convertible Debentures and
8.50% Monthly Income Senior Notes.

The lawsuits seek damages in an unspecified amount for losses
allegedly incurred as a result of materially false and
misleading statements and material omissions regarding the
Company's loss reserves allegedly contained in its reports filed
with the SEC, certain of its press releases, certain
prospectuses and prospectus supplements and in other statements.

The Company the claims asserted in these actions.


RADIO ONE: Settlement of 'IPO Suit' Still Needs NY Court's Nod
--------------------------------------------------------------
Radio One and certain of its officers and directors were named
in November 2001 as defendants in a class action shareholder
complaint filed in the United States District Court for the
Southern District of New York, now captioned, In re Radio One,
Inc. Initial Public Offering Securities Litigation, Case No. 01-
CV-10160.

Similar complaints were filed in the same court against hundreds
of other public companies (Issuers) that conducted initial
public offerings of their common stock in the late 1990s (the
IPO Lawsuits).  In the complaint filed against Radio One (as
amended), the plaintiffs claim that Radio One, certain of its
officers and directors, and the underwriters of certain of its
public offerings violated Section 11 of the Securities Act of
1933 based on allegations that its registration statement and
prospectus failed to disclose material facts regarding the
compensation to be received by, and the stock allocation
practices of, the underwriters. The complaint also contains a
claim for violation of Section 10(b) of the Securities Exchange
Act of 1934 based on allegations that this omission constituted
a deceit on investors. The plaintiffs seek unspecified monetary
damages and other relief.   

In July 2002, Radio One joined in a global motion, filed by the
Issuers, to dismiss the IPO Lawsuits.  In October 2002, the
court entered an order dismissing the Company's named officers
and directors from the IPO Lawsuits without prejudice, pursuant
to an agreement tolling the statute of limitations with respect
to Radio One's officers and directors until September 30, 2003.
In February 2003, the court issued a decision denying the motion
to dismiss the Section 11 and Section 10(b) claims against Radio
One and most of the Issuers.  

In July 2003, a Special Litigation Committee of Radio One's
Board of Directors approved in principle a settlement proposal
with the plaintiffs that is anticipated to include most of the
Issuers. The proposed settlement would provide for the dismissal
with prejudice of all claims against the participating Issuers
and their officers and the assignment to plaintiffs of certain
potential claims that the Issuers may have against their
underwriters.  The tentative settlement also provides that, in
the event that plaintiffs ultimately recover less than a
guaranteed sum from the underwriters, plaintiffs would be
entitled to payment by each participating Issuer's insurer of a
pro rata share of any shortfall in the plaintiffs guaranteed
recovery.  In September 2003, in connection with the proposed
settlement, Radio One's named officers and directors extended
the tolling agreement so that it would not expire prior to any
settlement being finalized.

"Although we have approved this settlement proposal in
principle, it remains subject to a number of procedural
conditions, as well as formal approval by the court," Radio One
said in a recent SEC disclosure.

"Other than legal fees incurred to date, Radio One expects that
the expenses of settlement, if any, will be paid by its
insurance carriers.  Until such settlement is finalized, we and
our officers and directors intend to continue to defend the
actions vigorously," the disclosure added.

For more information, contact Radio One, Inc. by Mail: 5900
Princess Garden Parkway, 8th FL Lanham MD 20706 or by Phone:
(301) 306-1111.


RADIOSHACK CORPORATION: Named As Defendant In Overtime Pay Suit
---------------------------------------------------------------
The Company is currently a party to a class action lawsuit,
filed in the United States District Court for the Northern
District of Illinois, alleging that the Company misclassified
certain RadioShack store managers as exempt from overtime in
violation of the Fair Labor Standards Act. The suit is styled
Alphonse L. Perez, et al. v. RadioShack Corporation.

While the alleged damages in this lawsuit are undetermined, they
could be substantial. The Company believes that it has a
meritorious defense against this case.  


REGENERON PHARMACEUTICALS: Files Motion To Dismiss Stock Lawsuit
----------------------------------------------------------------
Regeneron Pharmaceuticals, Inc. has filed a Motion to Dismiss a
consolidated class action complaint against it and certain of
its officers and directors, commenced in the United States
District Court for the Southern District of New York, on behalf
of a class consisting of investors of its publicly traded
securities between March 28, 2000 and March 30, 2003.

The complaint alleges that the defendants misstated or omitted
material information concerning the safety and efficacy of
AXOKINE, in violation of Sections10(b) and 20(a) of the
Securities and Exchange Act of 1934, and Rule10b-5 promulgated
thereunder. Damages are sought in an unspecified amount.


REGIONS FINANCIAL CORP: Faces Stockholder Complaints Over Merger
----------------------------------------------------------------
On January 27, 2004, a Regions stockholder filed a purported
class action complaint in the Circuit Court of Jefferson County,
Alabama, on behalf of all stockholders other than the defendants
against Regions and the members of its board of directors
(except for C. Kemmons Wilson, Jr.) in connection with the
proposed merger of Regions and Union Planters Corporation.

In addition, two Union Planters shareholders separately filed
purported class action complaints in the Chancery Court of
Tennessee on January 27, 2004 and January 28, 2004, against
Union Planters and the members of its board of directors in
connection with the merger.

Each of these complaints alleges that the defendant board of
directors breached its fiduciary duties in approving the merger.
The lawsuits seek, among other things, to recover costs and to
enjoin or rescind the transactions contemplated by the merger
agreement.

In addition, the lawsuits against Union Planters seek to recover
unspecified damages. Regions believes these lawsuits are
entirely without merit.


REHABCARE GROUP INC: Dismissal Of Stock Suit Pending in MO Court
----------------------------------------------------------------
Currently pending in the United States District Court for the
Eastern District of Missouri is Defendant's second motion to
dismiss a twice amended complaint brought on behalf of all
persons who purchased shares of the Company's common stock
between August 10, 2000 and January 21, 2002, against it and
certain of its current directors and officers, alleging
violations of the federal securities laws.

The lawsuit alleges weaknesses in the software systems selected
by our recently sold StarMed Staffing Group, and the purported
negative effects of such systems on our business operations.

The Plaintiff filed a second amended complaint in November
2003, pursuant to the District Court Judge's ruling that the
Plaintiff must present its claims with more focus and
"sufficient particularity" before he could entertain a motion to
dismiss.  


REHABCARE GROUP INC: Files Motion to Dismiss Derivative Lawsuit
---------------------------------------------------------------
The Company has filed a Motion to Dismiss a derivative lawsuit,
originally filed in August 2002, in the Circuit Court of St.
Louis County, Missouri against it and certain of its directors.  

The complaint, which is based upon substantially the same facts
as are alleged in the federal securities class action, was filed
on behalf of the derivative plaintiff by a law firm that had
earlier filed suit in the federal case.

The Company's Motion to Dismiss is based primarily on the
derivative plaintiff's failure to make a pre-suit demand, which
is pending.  The federal court hearing the securities law class
action has stayed discovery in the derivative proceeding until
discovery commences in the class action.


REHABCARE GROUP INC: Dismissal Denied, Suit Discovery To Begin  
--------------------------------------------------------------
The United States District Court for the Eastern District of
Arkansas recently denied both parties motion to dismiss a civil
action filed under the qui tam provisions of the False Claims
Act, seeking treble damages, civil penalties, back pay, and
special damages. The action is captioned United States of
America ex rel. Gregory Kersulis, M.D. and Jimmie Wilson and
Gregory Kersulis, M.D., and Jimmie Wilson v. RehabCare Group,
Inc.; and Baxter County Regional Hospital, Inc.

The allegations contained in the suit, brought by a former
independent contractor of the Company and a former Baxter
physical therapist, relate to the proper clinical diagnoses of
patients treated at the hospital's acute rehabilitation unit for
Medicare reimbursement purposes, in which Baxter
received such reimbursement in excess of $5,000,000.

The original action was filed on August 21, 2000, under
seal, requiring an investigation by the United States Department
of Justice, in which the Company and Baxter fully cooperated.
The Company and Baxter also initiated an internal and external
audit that concluded the allegations were unfounded and that the
Company and Baxter were in compliance with Medicare
regulations.  

After the Department's investigation, on June 3, 2003, the
government declined to intervene and the seal was lifted. The
Plaintiffs filed an amended complaint, and the Company was
served and notified of the civil allegations on July 15, 2003.
The Company have agreed to indemnify Baxter for all fees and
expenses on all counts except one, arising out of the action.
The Company expects discovery to commence shortly.


SAME-SEX MARRIAGES: Gay Couples Flock To Oregon For Licenses
------------------------------------------------------------
Judith Angelo and her partner, Dee Shedlow, join dozens of gay
men and lesbians from around the country Monday in applying for
marriage licenses in Multnomah County, in Portland, OR, after
last Thursday's California Supreme Court ruling ordering a halt
to the issuing of gay marriage licenses in San Francisco, the
Associated Press reports.

San Francisco started issuing same-sex licenses about a month
ago, but the California Supreme Court on Thursday ordered a
halt. Officials in communities in New York and New Jersey were
also ordered to stop. That made Portland the last resort. Of the
roughly 30 couples standing in line when the marriage office
opened, almost all were from outside the area.

"I said, `We got to go to Portland,'" said John Bergmann of
Sacramento, CA, there with his partner, Gary Hughes. In total,
the county has issued more than 2,000 licenses to gay couples
since March 3, when county commissioners said refusing to do so
would be unconstitutional. The couples feared they had wasted a
trip. Oregon's attorney general issued a non-binding opinion
Friday that gay marriage is illegal under current state law, and
Gov. Ted Kulongoski asked the Multnomah County Board of
Commissioners to halt the practice, but the Board decided Monday
to continue issuing the licenses.

Joan Kremer came from River Falls, WI, to marry her partner of
13 years, Brenda Keller. They arrived at the county building at
7 a.m., and five hours later were the first couple out the door
with a marriage license application. "Thank God you had a
wedding to come to instead of just a lot of sorrowful faces," a
jubilant Kremer told her adult children.

Tony Clemente and Gary Jeroy of Bloomfield, MI, almost decided
not to come to the marriage license office but changed their
minds at the last minute. "This is so exciting," Clemente said
as hugged his partner of 31 years. "TV cameras are here and I'm
crying my eyes out like a fool."


SBC COMMUNICATIONS: Antitrust Lawsuits in Connecticut Dropped
-------------------------------------------------------------
Eight consumer antitrust class actions were filed in 2003
against SBC Communications, Inc. in the United States District
Court for the District of Connecticut.   The primary claim in
these suits was that the wireline subsidiaries of the company,
in violation of federal and state law, maintained monopoly power
over local telephone service in all 13 states in which these
subsidiaries are incumbent local exchange companies.

These cases were consolidated under the first filed case Twombly
v. SBC Communications Inc. and stayed by agreement of the
parties pending the United States Supreme Court's (Supreme
Court) decision in a similar case against another incumbent
local exchange company.  In that case, the Supreme Court held
that violations of the Telecom Act do not support an antitrust
claim and that the plaintiff had not stated an antitrust claim
and affirmed dismissal of the plaintiff's antitrust claims.

On February 23, 2004, the court approved a voluntary dismissal
in the eight consolidated consumer antitrust class action suits,
thus ending that litigation.

For more information, contact SBC Communications, Inc. by Mail:
175 E Houston, Room 9-Q-04, San Antonio TX 78205 or by Phone:
(210) 821-4105.


SHERWIN WILLIAMS: Several Lead Paint Suits Set for Trial in 2004
----------------------------------------------------------------
The past operations of Sherwin Williams Company included the
manufacture and sale of lead pigments and lead-based paints. The
Company, along with other companies, is now a defendant in a
number of legal proceedings, including purported class actions,
separate actions brought by the State of Rhode Island, and
actions brought by various counties, cities, school districts
and other government-related entities, arising from the
manufacture and sale of lead pigments and lead-based paints.

The plaintiffs are seeking recovery based upon various legal
theories, including negligence, strict liability, breach of
warranty, negligent misrepresentations and omissions, fraudulent
misrepresentations and omissions, concert of action, civil
conspiracy, violations of unfair trade practices and consumer
protection laws, enterprise liability, market share liability,
nuisance, unjust enrichment and other theories.  The plaintiffs
seek various damages and relief, including personal injury and
property damage, costs relating to the detection and abatement
of lead-based paint from buildings, costs associated with a
public education campaign, medical monitoring costs and others.

"The Company believes that the litigation is without merit.and  
expects that additional lead pigment and lead-based paint
litigation may be filed against the Company in the future
asserting similar or different legal theories and seeking
similar or different types of damages and relief," the SEC
disclosure of Sherwin Williams Company states.

During September 2002, a jury trial commenced in the first phase
of the action brought by the State of Rhode Island against the
Company and the other defendants.  The sole issue before the
court in this first phase was whether lead pigment in paint
constitutes a public nuisance under Rhode Island law. This first
phase did not consider the issues of liability or damages, if
any, related to the public nuisance claim. In October 2002, the
court declared a mistrial as the jury, which was split four to
two in favor of the defendants, was unable to reach a unanimous
decision.  

"This was the first legal proceeding against the Company to go
to trial relating to the Company's lead pigment and lead-based
paint litigation.  The State of Rhode Island has decided to
retry the case," according to the SEC document.

"Additional legal proceedings pending in other jurisdictions
have been scheduled for trial during 2004, and the Company
believes it is possible that additional legal proceedings could
be scheduled for trial during 2004 and subsequent years," the
company said.

For more information, contact Sherwin Williams Company by Mail:
101 Prospect Ave NW, Cleveland OH 44115 or by Phone:
(216) 566-2200.



SOUTHWESTERN ELECTRIC: Seeks Dismissal of False Trades Lawsuits
---------------------------------------------------------------
In the fourth quarter of 2002 and the first quarter of 2003,
lawsuits alleging securities law violations and seeking class
action certification were filed in federal District Court,
Columbus, Ohio against AEP -- the parent of Southwestern
Electric Power Co. -- certain AEP executives, and in some of the
lawsuits, members of the AEP Board of Directors and certain
investment banking firms.  

The lawsuits claim that the defendants failed to disclose that
alleged "round trip" trades resulted in an overstatement of
revenues, that they failed to disclose that traders falsely
reported energy prices to trade publications that published gas
price indices and that they failed to disclose that they did not
have in place sufficient management controls to prevent "round
trip" trades or false reporting of energy prices.

The plaintiffs seek recovery of an unstated amount of
compensatory damages, attorneys' fees and costs.  The Court has
appointed a lead plaintiff who has filed a Consolidated Amended
Complaint.

"We have filed a Motion to Dismiss the Consolidated Amended
Complaint.  The Motion has been briefed by the parties,"
Southwestern Electric said in a recent SEC disclosure.

Also, in the first quarter of 2003, a lawsuit making essentially
the same allegations and demands was filed in state Common Pleas
Court, Columbus, Ohio against AEP, certain executives, members
of the Board of Directors and our independent auditor.

"We removed this case to federal District Court in Columbus and
the Court has denied plaintiff's motion to remand the case to
state court.  We have moved to consolidate this case with the
other pending cases.  We intend to continue to vigorously defend
against these actions," the SEC disclosure states.

For more information, contact Southwestern Electric Power Co. by
Mail: 428 Travis St, Shreveport LA 71156 or by Phone:
(318) 222-2141.


TOBACCO LITIGATION: UST Still Faces Liability Claims, Says Firm
---------------------------------------------------------------
Reacting to U.S. Smokeless Tobacco's (UST) March 15, 2004, press
release and investor conference call announcing that it had
resolved a substantial portion of its on-going "Conwood-related"
liability exposure, Cohen, Milstein Hausfeld and Toll, attorneys
for the plaintiff wholesalers and other direct purchasers of
smokeless tobacco, who have a pending federal antitrust lawsuit
against UST pending in the federal district court for the
District of Columbia, noted that UST continues to have
substantial exposure in the remaining direct purchaser federal
lawsuits, Business Wire reports.

"UST has represented that the value of the remaining claims in
federal court is not significant because it asserts that 88% of
the members of the proposed class have settled their claims and
opted out of the class action," said Paul Gallagher, a partner
with Washington, D.C.-based Cohen, Milstein Hausfeld and Toll,
which represents the direct purchasers. "What UST fails to
inform its investors and the public is that UST still faces
potentially hundreds of millions of dollars in treble damages in
these federal lawsuits, even if the courts uphold its individual
settlements with class members. Moreover, plaintiffs intend to
continue to challenge the propriety of these individual
settlements in both the trial and appellate courts. If these
individual settlements are overturned, UST would be exposed to
even greater liability than the hundreds of millions to which
they already are exposed," said Gallagher.

"In addition," Gallagher noted, "as a result of the more
favorable pricing that UST gave to its individually-settling
direct purchasers, non-settling plaintiffs have filed price
discrimination antitrust claims against UST, which could
increase UST's liability even further. Settling with Swedish
Match or the indirect plaintiffs is not going to make these
substantial federal claims magically disappear. The bottom line
is that, sooner or later, UST is going to find itself before a
federal jury, forced to explain the conduct that resulted in the
largest antitrust judgment in history being rendered against
it."


SPRINT: CEO Says Pending Suits Won't Change PCS Conversion Ratio
----------------------------------------------------------------
Responding to recent shareholder suits over Sprint Corp.'s
decision to combine its two tracking stocks, PCS and FON, Chief
Executive Gary Forsee said the company has no intention of
changing the conversion ratio, The Dow Jones Business News
reports.

Speaking from a Merrill Lynch Global Communications Investor
Conference in New York, which was Web cast, Forsee said some of
the shareholder suits stemmed from basic misunderstanding of the
conversion. "We are very comfortable that the process will stand
the test of any class-action suits," he said.

Sprint announced last month plans to eliminate its PCS tracking
stock by converting each share of PCS stock into one half of a
share of FON common stock. Sprint said it will continue paying a
12.5-cent quarterly dividend on all its FON shares.

Sprint revealed in its annual report that at least six class-
action suits were filed related to the planned recombination.
The lawsuits allege breach of fiduciary duty and seek injunctive
relief or monetary damages.


TYCO INT'L: Prosecution Rests After Closing Arguments In Case
-------------------------------------------------------------
In closing arguments Tuesday in the trial of two former top Tyco
International, Ltd. executives accused of corruption, Manhattan
prosecutors said that former Tyco Chairman Dennis Kozlowski and
Chief Financial Officer Mark Swartz "bought the loyalty of their
employees and then used the company as their own "personal piggy
bank" to loot it of $600 million," Reuters News reports.  

Portraying the two former executives as greedy, manipulative and
deceptive, Manhattan Assistant District Attorney Ann Donnelly
told jurors the pair "made no distinction between themselves and
the company." "They are here not because they blurred the line
between themselves and Tyco," Donnelly said in her closing
argument. "They are here because they obliterated it, because
they erased it" in using the company "as their personal piggy
bank."

Both defendants occasionally scribbled notes as the prosecution
made its last appeal to jurors in one of the biggest corporate
corruption cases in U.S. history. Kozlowski, however, looked
serious and while Swartz appeared loose and relaxed -- as he has
throughout the trial. Kozlowski and Swartz are accused of
securities fraud, conspiracy, grand larceny and falsifying
documents. They went on trial in September in a case that pitted
them against former Tyco directors who made them among the best
paid executives in the United States.

Several directors testified they never approved tens of millions
of dollars in bonuses and forgiven loans for Kozlowski and
Swartz. They are accused of stealing $170 million and obtaining
another $430 million through illicit stock sales. Kozlowski's
lavish lifestyle, in which he bought paintings by Old Masters,
jewelry and a $6,000 shower curtain, was a focal point of the
trial. Addressing testimony by several former Tyco employees
that they received big-ticket bonuses and had loans forgiven on
their homes while working under Kozlowski and Swartz, the
prosecutor said the executives "purchased the loyalty of their
employees to get them to do what they wanted."

Kozlowski never took the stand in his own defense. But Swartz,
the only defense witness, issued strong denials to the
prosecution's claims during several days of testimony. But the
credibility of Swartz came under attack during the prosecution's
closing argument. "Did Mark Swartz tell you the truth?" Donnelly
asked. "Mark Swartz has mastered the art of communication. It
was almost like someone on a talk show." Earlier on Tuesday,
Kozlowski's top defense lawyer, Stephen Kaufman, said the case
never should have been a criminal matter, but belonged in a
civil court. "This is a case in search of a crime," Kaufman told
jurors during the final hour of his summation.

Kaufman acknowledged people are angry over corporate corruption,
but he sought to distance Kozlowski and Swartz from the scandals
that roiled Enron, WorldCom and Adelphia. "Is this a time to win
one for the little guy?" Kaufman asked. "But that has nothing to
do with facts of the case."


WYETH PHARMACEUTICALS: Jury Awards Musician Who Lost Arm $7.4M
--------------------------------------------------------------
A jury has awarded Diana Winn Levine, a musician who lost an arm
to a medical error, $7.4 million in a lawsuit against Wyeth
Pharmaceuticals Co, the Associated Press reports.

The jury awarded the sum last week after finding that faulty
instructions on how to give an anti-nausea drug led to the
amputation of her right arm. Levine played the bass and guitar.
Levine, owner and creative director for Re-Bop Records in
Marshfield, was suffering from a migraine in 2000 when she went
to the Plainfield Health Center. She received a painkiller and
an injection of Phenergan. The Phenergan entered her artery, not
her vein. The resulting circulatory problems led to the loss of
her arm.

"We did not make this case anti-drug company, or anti-out-of-
state company," said Levine's lawyer, Richard Rubin. "This case
was really about Diana's loss of her ability to play and write
music." Wyeth spokesman Lowell Weiner said that the Phenergan
label clearly warned health care providers not to administer the
drug through an artery, and that the label was approved by the
Food and Drug Administration. Lowell said Wyeth will appeal.


                  New Securities Fraud Cases


CANADIAN SUPERIOR: Abby Gardy Files Securities Suit in S.D. NY
--------------------------------------------------------------
Abbey Gardy, LLP commenced a Class Action lawsuit in the United
States District Court for the Southern District of New York, on
behalf of all those who purchased securities of Canadian
Superior Energy Inc. between December 18, 2003 and March 10,
2004, inclusive, against defendants Canadian Superior, and:

     (1) Gregory S. Noval,

     (2) Robert A. Pilling, and

     (3) Michael Coolen

The Complaint alleges that defendants violated Sections 10(b)
and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5
promulgated thereunder. The Complaint alleges that defendants
issued a series of materially false and misleading statements
about its El Paso Mariner I-85 well operations in Nova Scotia,
Canada. On February 24, 2004, Defendants issued a press release
reporting that "the Canadian Superior El Paso "Mariner" I-85
well will set a new low cost, "best value", record for modern
drilling offshore Nova Scotia". This statement, among others,
failed to disclose and indicate:

     (i) that defendants knew or were reckless in not knowing
         that the "Mariner I-85 well" was not progressing and
         was virtually "dry";

    (ii) that the actual costs of testing and drilling at the
         well were significantly exceeding the budgeted costs
         and,

   (iii) that the defendants' positive statements only served
         to artificially inflate the value of its stock. In
         addition, the Complaint alleges that while in
         possession of materially adverse information defendant
         Noval sold 25% his Canadian Superior stock at
         artificially inflated prices.

Less than three weeks later, on March 11, 2004, the Company
announced that it was abandoning the Mariner I-85 exploration
well due to budget constraints. On this news, the Canadian
Superior stock plunged from $3.24 on March 10, 2004 to close at
$1.80 on March 11, 2004 on heavy volume of 14.9 million shares.

For more information, contact Susan Lee, by Mail: 212 East 39th
Street, New York, New York 10016, by Phone: (212) 889-3700, or   
(800) 889-3701 (Toll Free, or by E-mail: slee@abbeygardy.com.


CANADIAN SUPERIOR: Charles Piven Launches Securities Suit in NY
---------------------------------------------------------------
Charles J. Piven, P.A. initiated a securities class action in
the United States District Court for the Southern District of
New York, on behalf of shareholders who purchased, converted,
exchanged or otherwise acquired the common stock of Canadian
Superior Energy, Inc. between November 17, 2003 and March 11,
2004, inclusive, against defendant Canadian Superior and one or
more of its officers and/or directors.

The action charges that defendants violated federal securities
laws by issuing a series of materially false and misleading
statements to the market throughout the Class Period which
statements had the effect of artificially inflating the market
price of the Company's securities.

For more information, contact Charles J. Piven, P.A., by Mail:  
The World Trade Center-Baltimore, 401 East Pratt Street, Suite
2525, Baltimore, Maryland 21202, by Phone: 410/986-0036, or by
E-mail: hoffman@pivenlaw.com.


EL PASO CORPORATION: Roy Jacobs & Assoc. Files Stock Suit in TX
---------------------------------------------------------------
Roy Jacobs & Associates initiated a class action lawsuit in the
United States District Court for the Southern District of Texas,
on behalf of persons or entities who purchased or otherwise
acquired the securities of El Paso Corporation during the period
from February 22, 2000 and February 17, 2004, against defendants
El Paso Corp., and:

     (1) Ronald L. Kuehn, Jr.,

     (2) Douglas L. Foshee,

     (3) D. Dwight Scott  

The complaint charges defendants with violating Sections 10(b)
and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5,
due to material misrepresentations concerning El Paso's
financial condition and specifically, its reported proved
petroleum reserves.

After the markets closed on February 17, 2004, El Paso shocked
the investing public by announcing that an independent review of
the company's proved oil and gas reserves revealed that El Paso
overstated such reserves by a staggering 41 percent. The company
further revealed that, as a direct result, it expected to take a
pre-tax charge of approximately $1 billion. As a result of these
revelations, El Paso's common stock fell 17.6 percent.

For more information, contact Roy L. Jacobs by Phone:
1-888-884-4490  


                            *********


A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the Class Action Reporter. Submissions
via e-mail to carconf@beard.com are encouraged.

Each Friday's edition of the CAR includes a section featuring
news on asbestos-related litigation and profiles of target
asbestos defendants that, according to independent researches,
collectively face billions of dollars in asbestos-related
liabilities.


                            *********


S U B S C R I P T I O N   I N F O R M A T I O N

Class Action Reporter is a daily newsletter, co-published by
Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland
USA.  Roberto Amor, Aurora Fatima Antonio and Lyndsey Resnick,
Editors.

Copyright 2004.  All rights reserved.  ISSN 1525-2272.

This material is copyrighted and any commercial use, resale or
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re-mailing and photocopying) is strictly prohibited without
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Information contained herein is obtained from sources believed
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