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PROMUS ANNOUNCES CERTAIN ACTIONS IN WALTER LITIGATION

 PROMUS ANNOUNCES CERTAIN ACTIONS IN WALTER LITIGATION
 MEMPHIS, Jan. 7 /PRNewswire/ -- The Promus Companies Incorporated (NYSE: PRI), today announced that on January 6, 1992, the Honorable Joseph H. Rodriguez, U.S. District Court Judge for the District of New Jersey presiding over the jury trial of Louis Walter et al. v. Holiday Inns, Inc. et al., had indicated that he is prepared to issue certain rulings on defendants' motion for judgment as a matter of law made at the close of plaintiffs' case. The case involves the 1981 purchase by Holiday Inns, Inc. of plaintiffs' interest in Harrah's Marina Hotel Casino in Atlantic City, New Jersey.
 Specifically, the Judge stated that he was prepared to dismiss the plaintiffs' claims for breach of fiduciary duty, punitive damages and rescission of the transaction. The Judge reserved ruling on dismissal of plaintiffs' remaining fraud claims pending further submissions on those claims by plaintiffs required by the Judge to be made later this week. No order has been entered by the Judge.
 -0- 1/7/92
 /CONTACT: Ralph Berry of The Promus Companies, 901-762-8629/
 (PRI) CO: The Promus Companies ST: Tennessee IN: LEI SU:


CM -- CH001 -- 7184 01/07/92 08:52 EST
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Publication:PR Newswire
Date:Jan 7, 1992
Words:199
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