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SUIT CHARGES SAFECARD GENERAL COUNSEL WITH ATTORNEY MALPRACTICE, BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT AND UNJUST ENRICHMENT

 MIAMI, Sept. 29 /PRNewswire/ -- Peter Halmos, co-founder and former chairman of SafeCard Services (NYSE: SSI), today filed suit in Florida State Court against SafeCard's general in-house counsel, Barry I. Tillis, charging attorney malpractice, breach of fiduciary duty, breach of contract and unjust enrichment.
 Mr. Halmos is seeking compensatory and punitive damages which he believes will exceed $75 million.
 The suit charges that, while simultaneously serving as legal counsel to Halmos personally and SafeCard, Tillis, out of concern for his own job safety at SafeCard following Halmos' departure, supplied confidential information about his client Halmos to his client SafeCard and schemed with SafeCard to use this information to try to intimidate Halmos. This privileged information eventually was reconstructed and reformulated by Tillis and SafeCard into a SafeCard suit against Halmos this past May following Halmos filing charges against SafeCard for various illegal and improper activities.
 The Halmos suit against Tillis, among other things, contains, as proof of its charges, a 39-page transcript of an interview of Tillis by Matt Morley, a partner of Fried, Frank, Harris, Shriver and Jacobson, outside corporate and litigation counsel to SafeCard, in which Morley induces Tillis to cast aspersions on Halmos. In the transcript, Fried, Frank encourages Tillis to suggest ways that would enable SafeCard to launch a "preemptive strike" against Halmos, who, at the time, was engaged in negotiations with SafeCard over certain indemnifications and other rights Halmos asserted were due him.
 In contravention of his obligations to his client Halmos, Tillis cooperated with Morley's inducement and supplied the information.
 -0- 9/29/93
 /CONTACT: Robert D. Siegfried of Kekst and Company, 212-593-2655/
 (SSI)


CO: SafeCard Services ST: Florida IN: SU:

CK -- NY087 -- 7017 09/29/93 17:50 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
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