Word: suede
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The RTC has sued Keating and other insiders for bilking Lincoln of $1.1 billion. Among other things, the suit alleges, Keating, his wife, his daughter and five other insiders sold 1 million shares of American Continental Corp., which owns Lincoln, to the employees' stock-ownership plan for nearly $8 million...
Keating is also being sued by Lincoln customers, who claim they came into the bank to make insured deposits but in a classic bait-and-switch were steered into buying uninsured securities issued by ACC to keep the institution afloat. In hearings held by the House Banking Committee, Congresswoman Marcy...
Cody's Books (75,000 titles; Berkeley). The nation's premier student bookstore caters to an eclectic clientele of intellectuals, street people and nerds with volumes on subjects ranging from Asian philosophy to Brazilian literature. "Look at this!" exults owner Andy Ross, demonstrating the proper passion. "We carry Thomas Mann...
JUSTICE Department regulations now prohibit "creative" uses of RICO by the federal government, but this restriction doesn't apply to private organizations. In Philadelphia, an abortion clinic sued protesters who picketed their clinic weekly for nine years. The case was complicated by the fact that the defendants broke in a...
The state police department was sued soon afterthe checkpoint program began. The lawsuit allegedthat the checkpoints violated the FourthAmendment's ban on unreasonable police searchesand seizures.