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COOPERS & LYBRAND SETTLES MINISCRIBE CASE AFTER TEXAS JUDGE OVERTURNS VERDICT

 COOPERS & LYBRAND SETTLES MINISCRIBE CASE AFTER
 TEXAS JUDGE OVERTURNS VERDICT
 NEW YORK, Feb. 17 /PRNewswire/ -- A judge in Galveston, Texas, today granted a motion by Coopers & Lybrand to set aside the jury verdict in the MiniScribe case and ordered a new trial, the firm announced. Immediately after the judgment was overturned, Coopers & Lybrand and the plaintiffs in the case said that they had reached a settlement and that the matter was closed. Terms of the settlement were not revealed, but the firm said it was pleased with the resolution.
 In setting aside the verdict, state district judge Roy Engelke said that the verdict was "not supported by sufficient evidence" and was "contrary to the great weight and preponderance of the evidence."
 The firm said that the judge's finding was a vindication of the position it has held all along: that it was a victim of a massive and collusive fraud by its former client, MiniScribe, and that any failures on its part were based on information deliberately misstated by MiniScribe.
 "The partners and management of Coopers & Lybrand are of course pleased to have this behind us," said Eugene M. Freedman, chairman of Coopers & Lybrand. "The entire matter has proved the strength of our firm and underscored our ability to function decisively and intelligently under the most adverse conditions."
 Freedman said that the resolution of the case had not affected his intention to continue to speak out for reform of the nation's tort system which is affecting the economic well-being and competitiveness of the entire nation.
 -0- 2/17/92
 /CONTACT: David Nestor of Coopers & Lybrand, 212-536-2965/ CO; Coopers & Lybrand ST: New York IN: FIN SU:


JT-DB -- NY035 -- 9683 02/17/92 17:20 EST
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Publication:PR Newswire
Date:Feb 17, 1992
Words:284
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