Accounting Firm Agrees to Settle Suit

The Des Moines Register (Business Section)

June 7, 1992

Sub-titles: $4.5 Million to Investors
Byline: Dale Kasler, Register Business Writer
Atty: GAL

Synopsis: (Class Action) GAL represented 200 investors who purchased stock and bonds in an offering underwritten by broker R.G. Dickinson & Co. Coopers & Lybrand, an accounting firm which was employed by Stotler & Co., a Chicago-based commodities broker, settled the suit approximately two years after the date of the filing of the suit. Dickinson had sold several million dollars of the Stotler stocks and bonds to the public, after which Stotler defaulted on bond payments and subsequently filed for bankruptcy court protection. Several suits involving 450 investors were involved against the various entities; the one in which GAL represented 200 investors settled for $4.5 million. The settlement is subject to approval by a federal judge in Chicago.

June 15, 1992

National Underwriter

"Washington National Ordered to Pay TPA $1.6 M"

Atty: GWL

Synopsis: GWL represented Robert Hoefer, owner of a Sioux City, Iowa-based third-party administrator, in suing Washington National Insurance Company for breach of contract, slander and forcing Mr. Hoefer out of business. The Chicago Federal District Court jury awarded more than $1.6 million in actual and punitive damages. Washington National filed motions for a directed verdict and tried to get the judgment overturned.

Suit filed in 1990 when Washington National cancelled Iowa Grand and Feed Association's (comprised of 400 employer units and approx. 20,000 insureds) group medical and life alleging premiums were delinquent.

[Summary of the Des Moines Register Article – see Des Moines Register website for complete article]