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FIRST OF MICHIGAN SUES COMERICA OVER ABORTED MERGER

 DETROIT, May 5 /PRNewswire/ -- First of Michigan Capital Corporation (MSE: FMG) announced today that it had filed suit against Comerica Incorporated (NYSE: CMA) for breach of their Agreement and Plan of Merger. At the same time, First of Michigan Corporation voluntarily discontinued, without prejudice to reinstatement, the lawsuit it had filed against Roney & Company and four of First of Michigan's former corporate finance department employees.
 John G. Martin, president and chief executive officer of First of Michigan Capital Corporation, said, "There may come a need to reinstitute that lawsuit, but at present we wish to devote our energies to challenging Comerica's wrongful termination of the merger."
 On Jan. 10, 1993, First of Michigan agreed to merge with Comerica. Comerica abrogated that agreement on March 31, 1993, citing as purported justification the recent departure of four of First of Michigan's former corporate finance department employees.
 -0- 5/5/93
 /CONTACT: John G. Martin of First of Michigan Capital Corporation, 313-259-2600; or Suzanne Rabideau, 313-954-1901, for First of Michigan Capital Corporation/
 (FMG CMA)


CO: First of Michigan Capital Corporation; Comerica Incorporated ST: Michigan IN: FIN SU:

DH -- DE030 -- 5035 05/05/93 16:31 EDT
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Publication:PR Newswire
Date:May 5, 1993
Words:193
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