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JEFFERSON-PILOT RELEASES STATEMENT REGARDING RESIDENTIAL TITLE INSURANCE JURY VERDICT

 JEFFERSON-PILOT RELEASES STATEMENT REGARDING
 RESIDENTIAL TITLE INSURANCE JURY VERDICT
 GREENSBORO, N.C., April 6 /PRNewswire/ -- Jefferson-Pilot Corporation (NYSE: JP) today released the following statement:
 Re: Lawyers Title of North Carolina et al. v. Investors
 Title Company, et al.
 In a case that will have significant impact on the manner in which residential title insurance is sold in North Carolina, a jury today returned a verdict in favor of plaintiffs Lawyers Title of North Carolina (NASDAQ: LTCO) and Jefferson-Pilot Title Insurance Company and against defendants Investors Title Company ("ITC")(NASDAQ-NMS: ITIC), Investors Title Insurance Company ("ITIC") and Investors Title Agencies ("ITA"). The jury found that the defendants had violated sections 1 and 2 of the Sherman Antitrust Act, North Carolina General Statute Section 75-1, and North Carolina General Statute Section 751.1 which forbids unfair competition and unfair and deceptive trade practices in North Carolina. The Honorable Richard C. Erwin, United States Chief District Judge for the Middle District of North Carolina, presided over the six week trial in federal court in Winston-Salem, N.C. Specifically, plaintiffs claimed that the defendants and a group of their putative agents, and their affiliates, a group of North Carolina lenders, developers and real estate agents, had conspired to deny North Carolina consumers, and the attorneys who represent them, their choice of title insurance companies in violation of the laws. The jury also found that the defendants had violated state and federal laws by paying kickbacks for the referral of title insurance business from lenders, realtors and developers.
 Joe Ritter, president of Jefferson-Pilot Title Insurance Company, reported that he was "gratified by the jury's decision." Ritter also stated that "from now on all title insurance companies in this state will have to compete in a proper and legal manner."
 Plaintiffs in the case were represented by W. Andrew Copenhaver, Mark N. Poovey and Pressly M. Millen of the law firm of Womble Carlyle Sandridge & Rice.
 -0- 4/6/92
 /CONTACT: Jerry Eagle, Jefferson-Pilot Corporation, 919-691-3375/
 (JP ITIC LTCO) CO: Jefferson-Pilot Title Insurance Company; Lawyers Title; Investors
 Title Comnpany; Investors Title Insurance Company; Investors
 Title Agencies ST: North Carolina IN: INS SU:


CM -- CH008 -- 5596 04/06/92 17:55 EDT
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Publication:PR Newswire
Date:Apr 6, 1992
Words:365
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