OTHER NEWS - July 9, 1991

Settlement Reached in Boesky Litigation: Lawyers for inside trader Ivan F. Boesky and partners in a Boesky enterprise have agreed to settle a longstanding lawsuit, resolving nearly all litigation against the speculator, sources said. Boesky’s main law firm--Fried, Frank, Harris, Shriver & Jacobson--and a defunct auditing firm agreed to pay $11.2 million to the 46 partners in Ivan F. Boesky & Co. to settle charges that the law firm misled them. Sources said a large majority of the partners agreed to the settlement. Harvey Pitt, a Boesky lawyer with Fried Frank, declined to comment on the deal.