CAR_Public/021113.mbx                C L A S S   A C T I O N   R E P O R T E R
  
              Wednesday, November 13, 2002, Vol. 4, No. 225

                              Headlines                            

APARTHEID LITIGATION: Former President de Klerk Criticizes Lawsuit
BELLSOUTH CORPORATION: Faces Numerous Securities Fraud Suits in N.D. GA
BELLSOUTH CORPORATION: Faces Lawsuits For ERISA Violations in N.D. GA
CONNECTICUT: Court Monitor Reports Progress By State Child Care Agency
CONNECTICUT: Medicaid Recipients File Suit Over Inaccessible Equipment

EL PASO: Enters Settlement Talks With CA Regulators in Gas Prices Suit
LEXMARK INTERNATIONAL: Court Dismisses Suit For Securities Violations
NEW ZEALAND: Wakefield Hospital Fights Possible Securities Fraud Suit
OCEAN SPRAY: Rival Commences Cranberry Antitrust Lawsuit in WA Court
PROGRESSIVE CORPORATION: LA Court Grants Certification To Wage Lawsuit

SYGENTA CROP: High Court Refuses Transfer of Suit Under All Writs Act
TENET HEALTHCARE: Faces Suits, Charges Of Unnecessary Heart Surgery
UNITRIN INC.: Court Grants Final Approval To Race Bias Suit Settlement
WAMPLER FOODS: Said It Acted Responsibly in PA Listeriosis Outbreak
WILLIAMS COMPANIES: Renegotiates Long-Term Energy Contracts with CA
          
* Securities Settlements by Wall Street Firms Leaving Shareholders Out

                     New Securities Fraud Cases          

BROADWING INC.: Cauley Geller Lodges Securities Fraud Suit in S.D. Ohio
BROADWING INC.: Faruqi & Faruqi Launches Securities Fraud Suit in OH
BROADWING INC.: Wolf Haldenstein Commences Securities Suit in W.D. OH
CREDIT SUISSE: Cohen Milstein Lodges Securities Fraud Suit in MA Court
H&R BLOCK: Faruqi &  Faruqi Commences Securities Fraud Lawsuit in NY

H&R BLOCK: Charles Piven Commences Securities Fraud Lawsuit in S.D. NY
H&R BLOCK: Abbey Gardy Commences Securities Fraud Suit in S.D. New York
OM GROUP: Kirby McInerney Commences Securities Fraud Suit in N.D. OH
SALOMON SMITH: Rabin & Peckel Commences Securities Fraud Suit in NY
SALOMON SMITH: Stull Stull Commences Securities Fraud Suit in S.D. NY

SYNCOR INTERNATIONAL: Charles Piven Launches Securities Suit in C.D. CA
SYNCOR INTERNATIONAL: Levy & Levy Commences Securities Fraud Suit in CA
SYNCOR INTERNATIONAL: Brian Felgoise Lodges Securities Suit in W.D. CA
TENET HEALTHCARE: Scott + Scott Launches Securities Fraud Suit in CA
TENET HEALTHCARE: Kirby McInerney Commences Securities Suit in C.D. CA

UNDERWRITERS LITIGATION: Rabin & Peckel Files Securities Suit in OH


                              *********


APARTHEID LITIGATION: Former President de Klerk Criticizes Lawsuit
------------------------------------------------------------------
Former South African president FW de Klerk criticized the class action
seeking compensation for apartheid victims from multinational companies
in the US and Switzerland, saying it would cripple the ability of banks
and companies to do business "anywhere," Business Day reports.

Speaking at an American Chamber of Commerce gathering in Johannesburg,
South Africa Friday, Mr. de Klerck said that if the New Partnership for
Africa's Development (Nepad) was to succeed, then the court case should
not prevail.  "Cases will then be made against banks that have made
loans to many countries throughout the world that had one time or
another been accused of serious human rights violations," he stated,
according to a Business Day report.

"Although the case has little substance it has the potential to cause
real harm.  In particular it will make companies and international
banks even more reluctant to do business with any country with a less
than pristine human rights record.  This will of course include most of
the countries (in Africa), which need foreign investment," he added.

He said the case had the potential of affecting Nepad as it asked for
multinational firms to invest in some countries that had bad human
rights records.  "I have always said the best way to make amends for
apartheid was to dismantle it and open the way for a democratic
transformation of our society, to create new horizons."  He said the
challenge was to work for policies that would bring political, social
and economic justice "for all our people."

"This will be a much more realistic expectation than to wait in vain
for a cheque from foreign banks, which has to be extricated by
opportunistic lawyers," he said.


BELLSOUTH CORPORATION: Faces Numerous Securities Fraud Suits in N.D. GA
-----------------------------------------------------------------------
BellSouth Corporation faces several substantially identical securities
class actions filed in the United States District Court for the
Northern District of Georgia against it and three of its senior
officers, alleging violations of the federal securities laws.

The plaintiffs allege that during the period January 22, 2001 through
July 19, 2002, the Company:

     (1) overstated the unbilled receivables balance of its advertising
         and publishing subsidiary;

     (2) failed to disclose that a Florida CLEC had stopped paying
         money owed to the Company; and

     (3) understated its exposure to bad debt losses.

At this early stage of the litigation, the Company cannot predict the
likely outcome of the case, nor can a reasonable estimate of loss, if
any, be made.  


BELLSOUTH CORPORATION: Faces Lawsuits For ERISA Violations in N.D. GA
---------------------------------------------------------------------
BellSouth Corporation faces three substantially identical class actions
filed in the United States District Court for the Northern District of
Georgia against it, its directors, three of its senior officers, and
other individuals, alleging violations of the Employee Retirement
Income Security Act (ERISA).

The plaintiffs, who seek to represent a putative class of participants
and beneficiaries of the Company's 401(k) plan, allege that the Company
breached its fiduciary duties in violation of ERISA by, among other
things:

     (1) failing to provide accurate information to the Plan
         participants and beneficiaries;

     (2) failing to ensure that the Plan's assets were invested
         properly;

     (3) failing to monitor the Plan's fiduciaries; and

     (4) failing to disregard Plan directives that the defendants knew
         or should have known were imprudent.

At this early stage of the litigation, the likely outcome of the cases
cannot be predicted, nor can a reasonable estimate of loss, if any, be
made.  


CONNECTICUT: Court Monitor Reports Progress By State Child Care Agency
----------------------------------------------------------------------
An independent review by a court-appointed monitor of hundreds of case
files at Connecticut's Department of Children and Family (DCF)
indicates that the agency is making progress in protecting children, as
it works to sever itself from more than a decade of federal oversight,
reports Associated Press Newswires.

The department has been under a consent decree for 11 years because of
a 1989 class action alleging that the state had violated federal laws
by not adequately protecting children in its care.  The lawsuit was
filed under the name of "Juan F.," who was one of nine DCF clients
listed.  Before the federal oversight can be lifted, the department
must meet 22 goals over the next 18 months.

The court-appointed monitor's report was filed in federal court in
Bridgeport on Friday last.  It is the first in a series of large-scale
reviews of DCF's performance that are part of a plan approved by U.S.
District Judge Alan H. Nevas in February.  The monitor, for the purpose
of compiling a comprehensive report, had reviewed about 400 files,
selected in March to establish a baseline for further progress, DCF
spokesman Gary Kleeblatt said on Friday.  Goals include:

     (1) a reduction in the percentage of children in out-of-state
         care;

     (2) an increase in the number of social worker visits to abused
         and neglected children;

     (3) a reduction in the number of children housed in shelters for
         longer than 45 days; and

     (4) more siblings being placed together in foster or adoptive
         homes

The report found the department has been meeting the health, medical
and dental needs of children in its care.  Progress was cited in
placing children near their family when the goal is reunification and
in keeping siblings together when they are put in state custody.  The
agency also has met compliance standards for limiting the number of
abuse and neglect cases and repeat abuse cases in foster care, the kind
of conditions "we wish (do not) exist," said Mr. Kleeblatt, but he
noted that the agency was meeting its goals for keeping that number as
low as it can.

The report, however, was critical of some of the data handling in
cases.  One of the major obstacles was incomplete information in 40 to
60 percent of the treatment plans.  Some of the missing information was
contained in other areas of the case record, Mr. Kleeblatt said.  It is
important, however, that the "floating" information be gathered
together and find its home in one place, the most desirable being
within the boundaries of the treatment plan, according to points made
by Martha Stone.

An attorney for the plaintiffs said that the incomplete plans in foster
care cases, for example, raise serious questions about the quality of
care.  The treatment plan is the fundamental component, the fundamental
vehicle, the fundamental guide in the care and protection of the foster
child, as explained by Martha Stone of the Center for Children's
Advocacy, a co-counsel on the Juan F. class action, from which resulted
the consent decree.

"Children's treatment plans are an essential guide to the care and
protection of foster children.  They outline their goals in detail, and
the services the children need and are entitled to receive," said Ms.
Stone.

The next major review is scheduled for the spring of 2003.  Meanwhile,
DCF must continue to meet all the requirements in the consent decree.
During the transition from federal oversight to autonomy, court monitor
D. Ray Sirry also would have oversight on a sampling of cases,
officials said.


CONNECTICUT: Medicaid Recipients File Suit Over Inaccessible Equipment
----------------------------------------------------------------------
The State of Connecticut and Department of Social Services Commissioner
Patricia Wilson-Coker faces a class action filed in US District Court
in New Haven, Connecticut by three Medicaid recipients, alleging the
state denied them access to urgently needed medical equipment.

The suit further alleged that hundreds of other Medicaid recipients,
including many with low incomes and disabilities, also need the
equipment they were denied.  Their lawyers claimed that denial of
equipment is illegal and results in higher costs to the state, Yale
Business News reports.

Lawyers for the plaintiffs further alleged the department denied
Medicaid recipients the equipment based on a manual used for the
Medicare program.  They said Medicare, a supplemental health insurance
program, is not designed for low-income people and has more limited
benefits than Medicaid, the Yale Business News states.

Sheldon Toubman, another lawyer for the plaintiffs, said, "It is most
unfortunate that low-income elderly people and disabled folks would
have to file a lawsuit just to gain access to urgently needed equipment
which the federal government already instructed the department to
provide, and which the department already agreed to provide in new
regulations."

Kevin Brophy, a lawyer for one of the plaintiffs, told the Yale
Business News that if people are denied medical equipment, "they will
most likely be forced into nursing homes at a far greater cost to the
state's Medicaid program.  Does that make any sense for the taxpayers?"

Ms. Wilson-Coker did not immediately return a telephone message left at
her office Wednesday night, the Yale Business News states.  David
Dearborn, a spokesman for the Social Services Department, said he had
not seen the lawsuit and could not immediately comment Wednesday night.  
He said the department may comment after reviewing and researching the
allegations.


EL PASO: Enters Settlement Talks With CA Regulators in Gas Prices Suit
----------------------------------------------------------------------
El Paso Corporation is talking with California prosecutors and lawyers
to settle several class actions charging the Company with cutting
natural gas supplies to boost profits from the state's energy crisis,
officials said Friday, according to a Reuters report.

Prosecutors led by Attorney General Bill Lockyer are pursuing charges
laid-out by the California Public Utilities Commission (CPUC) stating
that the Company leased all extra space on its pipeline into Southern
California to its own affiliate, restricted access to other gas
shippers and operated the pipeline at less than full capacity.  Also
being investigated is Sempra Energy Company, which also manipulated gas
prices in the State

The two companies' actions allegedly led to a squeeze on gas supplies,
forcing gas prices much higher at the Southern California border, a
primary regional pricing point that is used as an index to calculate
wholesale gas prices at other regional pipelines, Reuters states.  

"The settlement talks with El Paso are ongoing and they do involve
lawyers of the private lawsuits," Tom Dresslar, a spokesman for
Attorney General Bill Lockyer, told Reuters.  However, he did not
disclose the details of the talks and would not comment on whether the
California Public Utilities Commission (CPUC) and Sempra Energy (SRE)
wer part of the talks.

Sempra spokeswoman Denise King, however, told Reuters the company was
not taking part in settlement discussions with Mr. Lockyer.

Lockyer told the San Francisco Chronicle on Friday he has been holding
settlement talks with Houston-based El Paso for several weeks after a
two-year probe.  "We feel that the evidence is accumulating and
persuasive that there were violations of federal and state antitrust
laws and state unfair business practices," Mr. Lockyer told the paper.


LEXMARK INTERNATIONAL: Court Dismisses Suit For Securities Violations
---------------------------------------------------------------------
A Kentucky federal judge recently dismissed a class action by nine
Lexmark shareholders who accused the Lexington-based printer maker of
propping up its stock price by not writing off obsolete inventory, The
Lexington Herald Leader reports.

Judge Joseph M. Hood said the plaintiffs, led by shareholder Michael
Campbell, had not met the requirements of the Private Securities
Litigation Reform Act of 1995, which was intended to eliminate
frivolous lawsuits.

In the lawsuit, the plaintiffs accused Lexmark and five executives of
withholding knowledge for seven months that Lexmark had up to $35
million in unsaleable printers.  They alleged that the delay kept
Lexmark's stock price high and gave insiders time to sell at inflated
prices.

In his 20-page order, Judge Hood said the 1995 act, as interpreted by
the 6th US Circuit Court of Appeals in Cincinnati, requires plaintiffs
to cite facts that indicate a "strong inference" of wrongdoing and
leave "little room for doubt as to misconduct."

Such evidence might include suspicious insider trading of stock, out-
of-court settlements of lawsuits alleging fraud and differences between
the company's internal and external reports.  The plaintiffs have
fallen "far short" of meeting the legal standard, Judge Hood said.  He
gave an example of such a failure amongst the plaintiffs' allegations -
Director Marvin Mann sold about 90 percent of the 350,000 shares sold
before the disclosure of obsolete inventory was made.  However, Mr.
Mann had to exercise stock options that would expire on August 28.  
Therefore, said Judge Hood, in that context, "Mr. Mann's sales seem
perfectly reasonable."


NEW ZEALAND: Wakefield Hospital Fights Possible Securities Fraud Suit
---------------------------------------------------------------------
Wakefield Hospital is fighting shareholder Philip Kelliher's efforts to
organize a class action over the company's prospectus, which the
Securities Commission has characterized as misleading, according to a
report by the New Zealand Herald.

The Wellington Company has released a legal opinion that attacked a
letter sent to shareholders to sound out support for the proposed legal
action.  Law firm Crengle, Shreves & Ratner said the letter, from
Auckland law firm Gaze Burt, was "flawed in its analysis" and misled
the shareholders about the likelihood of success and the potential
costs.

The Gaze Burt letter asked the shareholders if they were interested in
taking part in a class action, with most of the legal fees to be
contingent on success.

Wakefield Hospital Chairman John Calder said the legal opinion from law
firm Crengle, Shreves was being sent to shareholders with a letter from
himself, expressing disappointment that "one disgruntled shareholder"
kept attracting so much media attention.  The Crengle, Shreves legal
opinion questions whether a class action "is even possible" when each
person would have to prove that he or she read and specifically relied
upon the relevant portion of the profit forecasts.

Wakefield Hospital is threatening to complain to the Law Society about
the Gaze Burt letter.

In July, the Securities Commission found that Wakefield misled
investors in its public share offer documents last year, because it
failed to adequately describe the risks the company faced in the
subcontracting of lucrative, publicly funded cardiac surgery.  The
Commission also pointed to possible liabilities for the directors under
section 56 of the Securities Act.


OCEAN SPRAY: Rival Commences Cranberry Antitrust Lawsuit in WA Court
--------------------------------------------------------------------
Ocean Spray Cranberries faces an antitrust lawsuit filed in the United
States District Court in Washington, DC by rival Northland Cranberries,
Inc. alleging the cooperative monopolized the cranberry products
industry to the detriment of its competitors and consumers, the
Associated Press reports.

The suit says the Company's arrangement with foreign growers helps to
tie up cranberry production and sales of cranberry concentrate.  
"Through their current structure, we believe they are inappropriately
controlling and manipulating cranberry supplies," Kenneth Iwinski,
Northland's vice president for legal matters, told AP.

The Cooperative told AP, "We will defend ourselves vigorously..," said
Ocean Spray spokesman Chris Phillips, who had not seen the lawsuit yet.  
"We compete fairly in the marketplace."


PROGRESSIVE CORPORATION: LA Court Grants Certification To Wage Lawsuit
----------------------------------------------------------------------
US Magistrate Judge Joseph C. Wilkinson granted class certification to
a lawsuit charging Progressive Corporation unlawfully denied overtime
pay to its insurance claims representatives, Newsday Business reports.

Former claims representative Kelly Marie Camp filed the suit in August
2001 in the United States District Court in Louisiana, alleging that
the Company violated federal law by classifying her as an overtime-
exempt employee.

Specifically, the suit states that the Company classified its claims
representatives as "administrative employees" that are exempt from the
federal overtime law, which generally requires time-and-a-half pay for
working beyond 40 hours weekly.  Included in this classification were
salaried workers exempt from overtime include those who supervise other
employees, make policy decisions and have routine discretion in their
jobs.

Judge Wilkinson's ruling could allow as many as 7,000 current and
former claims representatives to join in the suit, Ms. Camp's attorney,
Jonathan Herman told Newsday.  Judge Wilkinson gave other plaintiffs
120 days to join the suit.

Leslie Colleda, a Progressive spokeswoman, said the company would not
comment on pending litigation, Newsday reports.  Mayfield Village,
Ohio-based Progressive has said that its claims employees are properly
classified.  The Company did not respond to a call for comment on the
magistrate's decision.


SYGENTA CROP: High Court Refuses Transfer of Suit Under All Writs Act
---------------------------------------------------------------------
The United States Supreme Court refused to allow Syngenta Crop
Protection, Inc. to move a class action pending against them from a
Louisiana state court to federal court where a settlement had been
reached in a related case, law.com reports.  The suit was commenced by
Syngenta workers who alleged they from exposure to one of the
insecticides manufactured by the company.

The Company invoked the All Writs Act in seeking the transfer and the
agreement of the plaintiffs to abide by the conditions of the federal
settlement.  The Act permits federal courts to issue "all writs
necessary or appropriate in aid of their respective jurisdictions."  It
is a procedural tool that has helped defendant companies in some
circuits protect federal court settlements from erosion or encroachment
by similar state court actions, law.com reports.

A six-page opinion written by Chief Justice William H. Rehnquist
rejected this.  Plaintiffs' lawyer David Bederman states that the
court's ruling "means that class action defendants who desire to get
cases into federal court now have one less avenue to do so because this
case stands for the proposition that you cannot use the All Writs Act
or ancillary enforcement jurisdiction to remove a case which would
otherwise be unremovable."

In a broader sense, he continued, the case "is about the balance of
authority between state courts and federal courts.  If you could easily
remove cases (from state to federal court) using this All Writs Act
gimmick, the cases would empty out of state court.  The Supreme Court
has said this is not permissible," law.com reports.


TENET HEALTHCARE: Faces Suits, Charges Of Unnecessary Heart Surgery
-------------------------------------------------------------------
One of the United States' biggest private hospital companies is facing
FBI allegations of unnecessary heart surgery, a federal government
inquiry into over-billing class actions from angry investors and the
abrupt departure of two senior executives, according to the Australian
Financial Review.

Tenet Healthcare Corp. was boasting just last month of rising patient
volume, record cash flows and soaring profits.  However, developments
over the past 10 days have seen its share price collapse and a national
law firm file a class action on behalf of Tenet shareholders, while $20
billion was wiped from its capitalization and its chief corporate
officer resigned.

On October 30, 40 FBI officers raided the offices of two cardiac
surgeons accused of performing unnecessary heart surgery on hundreds of
patients inside a profitable Tenet hospital in the town of Redding,
north of San Francisco.   The surgeons have denied the charges, but
lawyers have been swamped by patients in recent days who claim to be
victims of unnecessary tests and operations.

Affidavits filed by the FBI in a California district court allege
concerns about the heart surgeons dating back to the mid-1990s were not
taken seriously by Tenet management.  The company is standing by the
two cardiac surgeons, but has launched its own internal inquiry into
the allegations.

Redding attorney Dugan Barr said that one of his clients, a Catholic
priest, Father John Corapi, was urged by one of the accused surgeons to
undergo an invasive test in June and then told that he required
immediate coronary by-pass surgery.  Yet, after seeking a second and
third opinion, the priest was assured he was healthy and did not
require the test or the surgery.

Then, Tenet faced further problems when the US Department of Health and
Human Services announced it would conduct an audit of aspects of the
hospital corporation's billing practices.  In essence, the audit will
inquire into whether the company has been over-billing the publicly
funded Medicare program, which subsidizes the health care of the
elderly.

Tenet acknowledged, two days after the Department's announcement, that
it had engaged in "particularly aggressive pricing strategies" and
announced the removal of two key executives.

Subsequently, a national law firm filed a class action for Tenet
shareholders, alleging "profits were inflated by, among other things,
wrongfully inducing patients into undergoing unnecessary and invasive
surgeries."


UNITRIN INC.: Court Grants Final Approval To Race Bias Suit Settlement
----------------------------------------------------------------------
The United States District Court for the Middle District of Florida
granted final approval to the settlement proposed by Unitrin, Inc. to
settle a nationwide class action filed against it and its subsidiary
United Insurance Company of America.

The suit was filed on behalf of "all African-American persons who have
(or have had at the time of the Policy's termination), an ownership
interest in one or more Industrial Life Insurance Policies issued,
serviced, administered or purchased from United."  Plaintiffs alleged
discrimination in premium rates in violation of 42 U.S.C. 1981 and 1982
in addition to various state law claims; unspecified compensatory and
punitive damages were sought together with equitable relief.

At least twenty similar lawsuits were filed in other jurisdictions
against the Company and/or its career agency life insurance
subsidiaries, and the Judicial Panel on Multi-District Litigation
ordered that substantially all of these lawsuits be consolidated for
pretrial purposes.

On May 2, 2002, the Company announced a settlement, subject to court
approval, to resolve issues relating to the use of race as a factor in
the underwriting and pricing of life insurance by United and its
subsidiaries.  The settlement resolved all pending class action
lawsuits on this issue, as well as other issues in the litigation
unrelated to race-based underwriting.

At the same time, the Company announced the completion of a settlement
agreement concerning these matters with the Illinois Department of
Insurance on behalf of insurance regulators nationwide.

On September 19, 2002, a court order was entered giving final approval
to the settlement.  The period during which an appeal of that court
order could be filed has expired, and the Company is now in the process
of implementing the terms of the settlement agreement.

As of October 22, 2002, the Company has received approximately 1,800
confirmed opt-outs from the settlement, out of a class of more than
465,000 policies.  Persons who opt out of the settlement have the right
to bring individual lawsuits for the matters covered by the settlement.


WAMPLER FOODS: Said It Acted Responsibly in PA Listeriosis Outbreak
-------------------------------------------------------------------
Wampler Foods responded to the class action filed against it and its
parent company Pilgrim's Pride in the Court of Common Pleas in
Philadelphia relating to listeria-linked deaths and injuries, saying it
has "demonstrated the utmost responsibility" in regard to the recall of
its poultry products, Poultry Today reports.

Pilgrim's Pride voluntarily recalled 27.4 million pounds of poultry
products before the Centers for Disease Control & Prevention discovered
that one of its plants was a possible source of listeria that has been
attributed to numerous deaths and illnesses in the northeastern US.

"We can assure you that the health and safety of our customers and the
quality of our products have always been Wampler's top priorities,"
David Van Hoose, Pilgrim's Pride CEO, said in a statement.  "The
outbreak in the Northeast is of great concern to everyone in our
industry, and our sympathies are with the family and friends of those
who have been affected by these unfortunate events . Accordingly, we
will assist the USDA in any way we can as they continue their review of
the situation."

Regarding the number of cases of illnesses and deaths (43 illnesses, 7
deaths), Kenneth Moll said in a statement, "We believe that the total
number of cases will be much higher.  Our experience in prior outbreaks
is that cases of listeriosis are routinely under reported."

Listeria monocytogenes can lead to the development of listeriosis,
symptoms of which include nausea, diarrhea, muscle aches and fever,
Poultry Today reports.  Those with compromised immune systems, the
elderly and very young and pregnant women are most susceptible.


WILLIAMS COMPANIES: Renegotiates Long-Term Energy Contracts with CA
-------------------------------------------------------------------
Energy giant Williams Companies, Inc. reached an agreement with the
state of California to renegotiate the long-term energy contracts it
struck with the state in the aftermath of its energy crisis, Reuters
reports.

The agreement is part of a settlement proposed by the Company to settle
the state's outstanding litigation and civil claims against it.  It
expects other parties, including Washington, Oregon and private class
action plaintiffs, to join the settlement.

As part of the renegotiation, Williams has agreed to increase maximum
power supplies through 2010 to 1,875 megawatts from 1,400 megawatts,
Reuters reports.  It has also been released from outstanding power
refund issues with the settling parties.

Under the settlement, Williams has agreed to pay $150 million in cash
considerations over eight years, contribute six generating turbines and
help the attorney general's office with ongoing investigations into the
electric power and gas markets, Reuters stated.

          
* Securities Settlements by Wall Street Firms Leaving Shareholders Out
----------------------------------------------------------------------
Wall Street firms are preparing to pay as much as $2 billion as penance
for their sins of offering misleading stock research to unsuspecting
investors, but investors who were persuaded by such research to buy or
hold money-losing stocks are not expected to see a dime - and that has
got some lawyers for investors fuming.

"I believe that money should be returned to the victims of the
analysts' fraud," said Jacob Zamansky, a New York lawyer, who last year
got a $400,000 settlement for his client from Merrill Lynch over
allegedly tainted research.  "That should be a down payment," Mr.
Zamansky said.

The global settlement being negotiated between an army of regulators
and 10 Wall Street firms is expected to cost Wall Street firms hundreds
of millions of dollars in fines, and as much as $1 billion to fund a
new source of independent research for small investors.  The fines
would settle charges that some researchers issued falsely rosy reports
on companies their own firms were wooing for lucrative investment-
banking business.

However, the money is likely to go to state coffers, not investors.  
"In this instance it is very hard to put aside a pot of money and say,
`This is for investors,'" said Christine Bruenn, president of the North
American Securities Administrators Association, a group of state
securities cops engaged in the negotiations.  "It is very difficult to
identify who the investors are," who bought based on research, rather
than for other reasons.

In reaching a separate $100 million settlement with Merrill Lynch last
summer, New York Attorney General explained the lack of investor relief
by saying that class actions are "the mechanism that our society has
created to give restitution."

However, investor advocates say that regulators are losing sight of the
fact that when researchers issue rosy research on companies they
privately call "junk" or "toast," it is an act tantamount to theft.

"If you know a security is going down as you sell it, how can you
possibly describe that as anything but theft?" said Richard Sacks,
president of Investors Recovery Service, a Novato firm that helps
investors bring claims against brokers.  "You know that people are
going to get hurt," said Mr. Sacks.

Negotiations are still ongoing, and some say it is possible that one or
more states could use their share of the proceeds to help investors.
However, whatever way the funds are made available for investors, the
investors seeking repayment will have to show that they "relied on the
tainted research in making their investment decision.  That might
entail showing that their broker sent them research or showing notes
they took of phone conversations."

Some investment professionals say that individual investors do not
deserve anything.  They argue that such investors are just looking for
someone to blame for poor stock choices and their own greediness.

"I did not hear anyone complaining about taints in the system when
stocks were going up five percent a day," said Roger McNamee, general
partner with Integral Capital Partners.

In response to this argument, investor lawyers have said they regularly
see investors who were strongly urged to stay in declining stocks by
brokers wielding bullish research reports.  Investor lawyers also worry
that investors who want to pursue private lawsuits will not be able to
tap the valuable, and damning, documents that state regulators have
uncovered.  That includes such evidence as the internal Merrill Lynch
e-mails from internet analysts who privately called some stocks "dogs"
or "junk" even as they meanwhile rated that same stock "buy" for
investors.

Ms. Bruenn says that regulators would like to share such discoveries
with investors.  Any settlement should have "enough details in it that
if an investor had invested in a stock that was the subject of one of
our investigations, they could take the order into arbitration and say,
`See, the regulators investigated this and they thought there was
something wrong,'" Ms. Bruenn said.

Ms. Bruenn's reasoning seems eminently logical.  The evidence from the
regulators will bear, as it were,  the imprimatur of seasoned state
investigators, ready to rely on it to strike a settlement with the law
firms whose analysts engaged in outright acts of thievery.  By sharing
the evidence with the investors, at least they shall be enabled to help
themselves.

                     New Securities Fraud Cases          

BROADWING INC.: Cauley Geller Lodges Securities Fraud Suit in S.D. Ohio
-----------------------------------------------------------------------
Cauley Geller Bowman & Coates, LLP initiated a securities class action
in the United States District Court for the Southern District of Ohio,
on behalf of purchasers of the common stock of Broadwing, Inc. (NYSE:
BRW) during the period between January 17, 2001 and May 20, 2002,
inclusive.

The complaint charges the Company and certain of its past and present
officers and directors with issuing false and misleading statements
during the class period that failed to disclose that the Company:

     (1) was severely undercapitalized with insufficient cash from
         operations to service its massive debt,

     (2) inflated revenue through the use of undisclosed IRU sales and
         purported swap transactions and

     (3) failed to write-down goodwill recorded in connection with the
         acquisition of Broadwing Communications.

The full truth was not disclosed until Broadwing filed its Form 10-Q,
for the quarter ended March 31, 2002 and analysts, on May 20, 2002,
expressed their concern about Broadwing's financial results.  As a
result on May 21, 2002, Broadwing's share price plummeted 30%.

For more details, contact Jackie Addison, Heather Gann or Sue Null by
Mail: P.O. Box 25438, Little Rock, AR 72221-5438 by Phone: 888-551-9944
by E-mail: info@cauleygeller.com or visit the firm's Website:
http://www.cauleygeller.com


BROADWING INC.: Faruqi & Faruqi Launches Securities Fraud Suit in OH
---------------------------------------------------------------------
Faruqi & Faruqi LLP initiated a securities class action in the United
States District Court for the Southern District of Ohio, Western
Division, on behalf of all purchasers of Broadwing, Inc. (NYSE:BRW)
securities between January 17, 2001 through May 20, 2002, inclusive.

The complaint charges defendants with violations of federal securities
laws by, among other things, issuing a series of materially false and
misleading press releases concerning the Company's financial results
and business prospects.

Specifically, the complaint alleges that the Company continuously
touted strong year-over-year revenue increases as well as its unique
attributes which purportedly immunized it from an industry-wide
downturn and related "bandwidth glut."  Moreover, it estimated goodwill
assets of approximately $2.2 billion.

On May 20, 2002, however, it was revealed that the Company:

     (1) derived at least 25% of its broadband revenue from one-time
         long term bandwidth leases with cash paid up-front in 2001;

     (2) improperly accelerated recognition of at least $32.4 million
         in revenue from a bankrupt entity;

     (3) engaged in sham sales swaps artificially increasing sales
         figures; and

     (4) overestimated goodwill between $1.2 and $1.8 billion.

These revelations resulted in a share price decline of 30% in a single
day, falling from $5.28 per share at close on May 20, 2002 to $3.70 per
share at close on May 21, 2002 on trading of 24.7 million shares.

For more details, contact Eric Crusius or Anthony Vozzolo by Mail: 320
East 39th Street, New York, NY 10016 by Phone: 877-247-4292 or
212-983-9330 by E-mail: Ecrusius@faruqilaw.com or
Avozzolo@faruqilaw.com or visit the firm's Website:
http://www.faruqilaw.com


BROADWING INC.: Wolf Haldenstein Commences Securities Suit in W.D. OH
---------------------------------------------------------------------
Wolf Haldenstein Adler Freeman & Herz LLP initiated a securities class
action in the United States District Court for the Western District of
Ohio, on behalf of purchasers of the common stock of Broadwing, Inc.
(NYSE: BRW) between January 17, 2001, and May 20, 2002.

The complaint alleges that the Company and certain of its past and
present officers and directors violated Sections 10(b) and 20(a) of the
Securities Exchange Act of 1934 by issuing materially false and
misleading statements during the class period that failed to disclose
that the Company:

     (1) was severely undercapitalized with insufficient cash from
         operations to service its massive debt;

     (2) inflated revenue through the use of undisclosed IRU sales and
         purported swap transactions; and

     (3) failed to write-down goodwill recorded in connection with the
         acquisition of Broadwing Communications.

The full truth was not disclosed until Broadwing filed its Form 10-Q,
for the quarter ended March 31, 2002 and analysts, on May 20, 2002,
expressed their concern about Broadwing's financial results.  As a
result on May 21, 2002, Broadwing's share price plummeted 30%.

For more details, contact Fred Taylor Isquith, Gregory M. Nespole,
Gustavo Bruckner, Michael Miske, George Peters or Derek Behnke by Mail:
270 Madison Avenue, New York, New York 10016 by Phone: 800-575-0735 by
E-mail: classmember@whafh.com or visit the firm's Website:
http://www.whafh.com. All e-mail correspondence should make reference  
to Broadwing, Inc.


CREDIT SUISSE: Cohen Milstein Lodges Securities Fraud Suit in MA Court
----------------------------------------------------------------------
Cohen Milstein Hausfeld & Toll, PLLC initiated a securities class
action in the United States District Court for the District of
Massachusetts against Credit Suisse First Boston Corporation, a
subsidiary of Credit Suisse Group (NYSE:CSR), and one of its technology
analysts.  The case was filed on behalf of all persons who purchased
common stock of AOL Time Warner Inc. (NYSE:AOL) during the period from
Jan. 12, 2001 through Sept. 3, 2002.

The complaint alleges that the defendants violated section 10(b) of the
Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder,
and Section 20(a) of the Exchange Act, by issuing a series of favorable
research reports on AOL that were materially false or misleading in
that they did not reflect Credit Suisse's true opinion of AOL and they
did not disclose conflicts of interest of Credit Suisse.

In particular, the reports did not disclose the practice of Credit
Suisse to use its research coverage as part of its marketing efforts to
gain lucrative investment banking business.

According to an administrative complaint filed by the Secretary of the
Commonwealth of Massachusetts, on one occasion Credit Suisse issued an
analyst report stating Credit Suisse believed AOL could achieve the
earnings guidance AOL had given the market, when Credit Suisse in fact
believed (as expressed in internal communications) that AOL could not
make its numbers.  The Massachusetts complaint alleges that Credit
Suisse "purposely misled investors" with its analyst reports.

For more details, contact Steven J. Toll or Mary Ann Fink by Mail: 1100
New York Avenue, NW, West Tower, Suite 500 Washington DC 20005 by
Phone: 888-240-0775 or 202-408-4600 or by E-mail: mfink@cmht.com or
stoll@cmht.com or visit the firm's Website: http://www.cmht.com.  


H&R BLOCK: Faruqi &  Faruqi Commences Securities Fraud Lawsuit in NY
--------------------------------------------------------------------
Faruqi & Faruqi LLP initiated a securities class action filed in the
United States District Court for the Southern District of New York, on
behalf of all purchasers of H & R Block, Inc. (NYSE:HRB) securities
between November 8, 1997 and November 1, 2002, inclusive.

The complaint charges defendants with violations of federal securities
laws by, among other things, issuing a series of materially false and
misleading press releases concerning H & R Block's financial results
and business prospects.

Specifically, the complaint alleges that H & R Block failed to disclose
that it faced over 20 class action lawsuits in which it was accused of
charging excessive interest rates which amounted to a potential $2
billion liability which at times exceed the Company's total net worth.

As a result of this revelation on November 1, 2002, the stock declined
to $40.95 per share from $44.38 per share the prior day.  In total, the
Company lost $973 million in market capitalization and its stock
tumbled 8% in one day.

For more details, contact Eric Crusius or Anthony Vozzolo by Mail: 320
East 39th Street, New York, NY 10016 by Phone: 877-247-4292 or
212-983-9330 by E-mail: Ecrusius@faruqilaw.com or
Avozzolo@faruqilaw.com or visit the firm's Website:
http://www.faruqilaw.com


H&R BLOCK: Charles Piven Commences Securities Fraud Lawsuit in S.D. NY
----------------------------------------------------------------------
The Law Offices Of Charles J. Piven, PA initiated a securities class
action on behalf of shareholders who purchased, converted, exchanged or
otherwise acquired the common stock of H&R Block, Inc. (NYSE:HRB)
between November 8, 1997 and November 1, 2002, inclusive, in the United
States District Court for the Southern District of New York against the
Company and:

     (1) Mark A. Ernst,

     (2) Frank J. Cotroneo,

     (3) Frank L. Salizzoni,

     (4) Matthew A. Engel,

     (5) Cheryl L. Givens,

     (6) Ozzie Wenich and

     (7) Patrick D. Petrie

The action charges that defendants violated federal securities laws by
issuing a series of materially false and misleading statements to the
market throughout the class period which statements had the effect of
artificially inflating the market price of the Company's securities.

For more details, contact Charles J. Piven, PA by Mail: The World Trade
Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore,
Maryland 21202 by Phone: 410-986-0036 or by e-mail:
hoffman@pivenlaw.com


H&R BLOCK: Abbey Gardy Commences Securities Fraud Suit in S.D. New York
-----------------------------------------------------------------------
Abbey Gardy, LLP initiated a securities class action in the United
States District Court for the Southern District of New York on behalf
of all persons who purchased securities of H&R Block, Inc. (NYSE: HRB)
between November 8, 1997 and November 1, 2002, inclusive, against the
Company and:

     (1) Mark A. Ernst,

     (2) Frank J. Cotroneo,

     (3) Frank L. Salizzoni,

     (4) Matthew A. Engel,

     (5) Cheryl L. Givens,

     (6) Ozzie Wenich, and

     (7) Partick D. Petrie

The suit alleges that defendants violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934, and Rule 10b-5 promulgated
thereunder, by issuing a series of material misrepresentations to the
market during the class period thereby artificially inflating the price
of H&R Block's securities.

For more details, contact Nancy Kaboolian by Phone: 1-800-889-3701 or
by E-mail: Nkaboolian@abbeygardy.com or visit the firm's Website:
http://www.abbeygardy.com


OM GROUP: Kirby McInerney Commences Securities Fraud Suit in N.D. OH
--------------------------------------------------------------------
Kirby McInerney & Squire, LLP initiated a securities class action in
the United States District Court for the Northern District of Ohio on
behalf of all purchasers of OM Group, Inc. (NYSE:OMG) publicly traded
securities during the period from April 25, 2002 to October 30, 2002.

The suit charges the Company, as well as its Chief Executive and Chief
Financial Officers, with violations of Sections 10(b) and 20(a) of the
Securities Exchange Act of 1934.  The violations, as the complaint
alleges, stem from the issuance of allegedly false statements during
the class period, which had the effect, during the class period, of
artificially inflating the price of Company securities.

On October 29, 2002, Company shares lost 70% of their value, falling
$22 per share to close at $9 per share, after announcing:

     (1) a large loss (due to a massive inventory write-down);

     (2) plans for a thoroughgoing operational restructuring; and

     (3) a review of its financial reporting.

OM Group shares fell further to $6 per share when the company admitted
that OM Group's CEO had sold all his holdings to cover a margin call on
710,000 OMG shares which he had used as collateral for a loan.  

The complaint alleges that OM Group during the class period falsely
represented its financial results and operational state by failing to
take needed inventory writedowns and by failing to inform investors
that it was considering significantly altering certain of its (non-
performing) operations.

As is alleged in the complaint, OM Group makes metal-based chemicals
used in the aerospace, auto, and electronics industries.  On July 30,
2002, the OM Group in announcing slightly worse-than-expected 2nd
quarter 2002 financial results said that results for the 2nd half of
2002 would be adversely affected by low cobalt prices, and guided
profit estimates downwards ($0.92 EPS for the third quarter; $3.64 EPS
for the full year).

During the conference call discussing the 2nd quarter results and the
3rd quarter projections, management repeatedly emphasized that OM Group
was operationally excellent, and that its slightly-reduced financial
guidance for the rest of the year was merely a function of management's
prudent and "conservative picture on cobalt".

On September 19, 2002, OM Group warned that 3rdQ 02 results would be
slightly lower than previously issued financial guidance.  On October
29, 2002, OM Group announced a third quarter loss of $2.52 per share,
due to a $108 million write-down of its cobalt inventory (absent the
writedown and certain non-recurring earnings, OM Group would have
earnings approximately 40% below original guidance).

For more details, contact Ira M. Press or Orie Braun by Mail: 830 Third
Avenue, 10th Floor, New York, New York 10022 by Phone: 212-317-2300 or
888-529-4787 by E-Mail: obraun@kmslaw.com or visit the firm's Website:
http://www.kmslaw.com


SALOMON SMITH: Rabin & Peckel Commences Securities Fraud Suit in NY
-------------------------------------------------------------------
Rabin & Peckel LLP initiated a securities class action in the United
States District Court for the Southern District of New York, on behalf
of all persons or entities who purchased or otherwise acquired
securities of Metromedia Fiber Network, Inc. (Nasdaq:MFNX) between
November 25, 1997 and July 25, 2001, both dates inclusive.  Jack
Grubman and Salomon Smith Barney, Inc. are named as defendants in the
complaint.

The complaint charges that Jack Grubman and Salomon Smith Barney, Inc.
with violations of the Securities Exchange Act of 1934. Specifically,
the complaint alleges that defendants Salomon and Mr. Grubman urged
investors to purchase Metromedia Fiber stock when defendants knew or
should have known that such purchases were not a good investment.

The complaint alleges that defendants:

     (1) issued "Buy" recommendations about Metromedia Fiber without
         any rational economic basis;

     (2) failed to disclose that they were issuing "Buy"
         recommendations to obtain investment banking business; and

     (3) concealed significant, material conflicts of interests that
         prevented them from providing independent objective analysis.

For more details, contact Eric J. Belfi or Sharon Lee by Phone:
800-497-8076 or 212-682-1818 by Fax: 212-682-1892 by E-mail:
email@rabinlaw.com or visit the firm's Website: http://www.rabinlaw.com


SALOMON SMITH: Stull Stull Commences Securities Fraud Suit in S.D. NY
---------------------------------------------------------------------
Stull Stull & Brody initiated a securities class action in the United
States District Court for the Southern District of New York, on behalf
of purchasers of the common stock of Williams Communications Group,
Inc., (OTCBB:WCGQ, formerly NASDAQ:WCGRQ) between October 27, 1997 and
November 2, 2001, inclusive against defendants Salomon Smith Barney,
Inc., its star telecommunication research analyst, Jack Grubman, and
Salomon's parent company Citigroup, Inc.

The complaint alleges that the defendants violated the federal
securities laws by issuing analyst reports regarding WCG that
recommended the purchase of WCG common stock and which set price
targets for WCG common stock, without any reasonable factual basis.

The complaint further alleges, among other things, that when issuing
its WCG analyst reports, defendants failed to disclose significant,
material conflicts of interest which it had concerning the WCG reports,
because of Salomon's desire to obtain investment banking business from
WCG.

Throughout the class period, defendants maintained a "BUY"
recommendation on WCG in order to obtain and support lucrative
financial deals for Salomon.  The class period begins on October 27,
1997, at which time Salomon initiated coverage of WCG common stocks as
a "BUY."  The class period ends on November 2, 2001, the date
Defendants belatedly downgraded WCG from a "BUY" to a "NEUTRAL."

As a result of defendants' false and misleading analyst reports, WCG
common stock traded at artificially inflated levels during the class
period.

For more details, contact Tzivia Brody by Mail: 6 East 45th Street, New
york NY 10017 by Phone: 1-800-337-4983, by Fax: 212-490-2022 or by E-
mail: SSBNY@aol.com


SYNCOR INTERNATIONAL: Charles Piven Launches Securities Suit in C.D. CA
-----------------------------------------------------------------------
The Law Offices Of Charles J. Piven, PA initiated a securities class
action on behalf of shareholders who purchased, converted, exchanged or
otherwise acquired the common stock of Syncor International Corp.
(Nasdaq:SCOR) between April 25, 2001 and November 5, 2002, inclusive,
in the United States District Court for the Central District of
California, against the Company and:

     (1) Monty Fu,

     (2) Robert G. Funari,

     (3) Moses Fu and

     (4) William Forester

The action charges that defendants violated federal securities laws by
issuing a series of materially false and misleading statements to the
market throughout the class period which statements had the effect of
artificially inflating the market price of the Company's securities.

For more details, contact Charles J. Piven by Mail: The World Trade
Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore,
Maryland 21202 by Phone: 410-986-0036 or by E-mail:
hoffman@pivenlaw.com


SYNCOR INTERNATIONAL: Levy & Levy Commences Securities Fraud Suit in CA
-----------------------------------------------------------------------
Levy & Levy PC initiated a securities class action in the United States
District Court for the Central District of California on behalf of all
persons who purchased securities of the Syncor International Corp.
(Nasdaq: SCOR) between April 25, 2001 and November 5, 2002 inclusive,
against the Company and:

     (1) Monty Fu, Chairman of the Board,

     (2) Robert G. Funari, President and Chief Executive Officer,

     (3) Moses Fu, Director of Syncor Overseas Ltd. and

     (4) William Forester, Chief Financial Officer and Sr. Vice
         President of the Company

The suit alleges that defendants violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934, and Rule 10b-5 promulgated
thereunder, by issuing a series of material misrepresentations to the
market during the class period thereby artificially inflating the price
of Company securities.

The suit alleges that, among others, the following press releases and
SEC filings were materially false and misleading: April 25, 2001, press
release, the March 31, 2001 Form 10-Q, July 24, 2001 press release,
June 30, 2001 Form 10-Q, October 24, 2001 press release, September 30,
2001 Form 10-Q, February 20, 2002 press release, 2001 10-K, April 24,
2002 press release, March 31, 2002 Form 10-Q, July 30, 2002, press
release, October 11, 2002 press release.

These press releases and public filings were materially false and
misleading in that they failed to disclose that throughout the class
period, the Company's Chairman of the Board and the director of its
Asian division were making illegal payments to the Company's overseas
customers.

Before the market opened on November 6, 2002, the Company shocked the
market by announcing that it was conducting an internal investigation
into illegal payments to its overseas customers and had contacted the
Justice Department and the Securities Exchange Commission, and that its
previously announced acquisition by Cardinal Health, Inc. was in doubt.

As a result of this news, Syncor's stock price dropped sharply in pre-
market trading to $22.50 per share, down $13.42 per share from its
previous closing price of $35.92, and Nasdaq halted trading of Syncor's
stock pending a satisfactory response to its request for additional
information from the Company. When trading resumed the price of
Syncor's stock dropped $8.52 to $27.

For more details, contact Stephen G. Levy by Mail: One Stamford Plaza,
263 Tresser Blvd., 9th Floor, Stamford, CT 06901 by Phone: 800-601-4743
(toll-free), or 203-564-1920 by E-mail: LLNYCT@aol.com or visit the
firm's Website: http://www.levylawfirm.com


SYNCOR INTERNATIONAL: Brian Felgoise Lodges Securities Suit in W.D. CA
----------------------------------------------------------------------
The Law Offices of Brian M. Felgoise, PC initiated a securities class
action on behalf of shareholders who acquired Syncor International
Corp. (Nasdaq:SCOR) securities between March 30, 2000 and November 5,
2002, inclusive, in the United States District Court for the Central
District of California, Western Division, against the Company and
certain key officers and directors.

The action charges that defendants violated the federal securities laws
by issuing a series of materially false and misleading statements to
the market throughout the class period which statements had the effect
of artificially inflating the market price of the Company's securities.

For more details, contact Brian M. Felgoise by Mail: 230 South Broad
Street, Suite 404, Philadelphia, Pennsylvania, 19102 by Phone: 215-735-
6810 or by E-mail: goise@comcast.net


TENET HEALTHCARE: Scott + Scott Launches Securities Fraud Suit in CA
---------------------------------------------------------------------
Scott + Scott LLC initiated a securities class action in the United
States District Court for the Central District of California against
Tenet Healthcare Corporation on behalf of all persons who purchased or
otherwise acquired the securities of Tenet Healthcare Corporation
(NYSE:THC) from October 3, 2001 through October 31, 2002, inclusive.

The suit alleges that the Company and certain of its officers violated
the Securities Exchange Act of 1934 due to defendants' issuance of
false and misleading statements about the Company's operations and
performance, and because of the Company's violations of Generally
Accepted Accounting Principles (GAAP).

The lawsuit claims that during the class period, defendants
misrepresented that THC's financial results were due to the Company's
commitment to quality and cost-effective care.  Throughout the class
[eriod, defendants repeatedly stated that Tenet's financials were
strong, that the Company's bottom line was attributed to its state-of-
the-art facilities and high-quality patient care, and that Tenet was
consistently achieving record results.

In reality, however, the complaint claims that defendants actually knew
that the quality of Tenet's profits were inflated by, among other
things, a scheme to wrongfully induce patients to undergo unnecessary
and invasive surgeries and coronary procedures.  The scheme included
unnecessary heart catheterization, including angiogram and
intravascular ultrasound, stent placement, angioplasty, coronary artery
bypass surgery and heart valve replacement surgery.

The price of THC stock plunged more than 26 percent last Thursday after
federal prosecutors in Sacramento filed an affidavit regarding alleged
false billing by two doctors at the company's hospital in Redding,
Calif.  Numerous reports concerning the FBI investigation followed.

These disclosures shocked the market, causing Tenet's stock to decline
to less than $29 per share before closing at $28.75 per share on
October 31, 2002, on volume of more than 50 million shares.

Late Thursday, the company said Chief Operating Officer Thomas Mackey,
54, retired after 17 years, and that David Dennis, 53, chief corporate
officer and chief financial officer since 2000, had resigned. Today,
the stock price dropped another 48%.

For more details, contact Neil Rothstein or David R. Scott by Phone:
800-404-7770 by E-mail: nrothstein@scott-scott.com or drscott@scott-
scott.com or visit the firm's Website: http://www.scott-scott.com


TENET HEALTHCARE: Kirby McInerney Commences Securities Suit in C.D. CA
-----------------------------------------------------------------------
Kirby McInerney & Squire, LLP initiated a securities class action in
the United States District Court for the Central District of California
on behalf of all purchasers of Tenet Healthcare Inc. (NYSE:THC)
publicly traded securities during the period from October 3, 2001 to
October 31, 2002.

The action charges the Company, as well as its Chief Executive and
Chief Financial Officers, with violations of Sections 10(b) and 20(a)
of the Securities Exchange Act of 1934.  The violations, as the
complaint alleges, stem from the issuance during the class period of
financial results inflated by improper billing and operational
practices, which results, thus inflated, had the effect -- during the
class period -- of artificially inflating the price of the Company's
publicly traded securities.

When details of such improper practices began to emerge during the end
of October 2002, Tenet Healthcare shares quickly lost nearly 60% of
their value, falling from $39 to $15 per share.  On October 31, 2002,
Tenet Healthcare shares fell 26% after Tenet disclosed that the US
Attorney's office in Sacramento, California was examining whether
doctors at a Tenet hospital performed unnecessary procedures, including
open-heart surgeries and angioplasties, in order to generate higher
Medicare reimbursements (known as "outlier payments").

The complaint alleges that Tenet Healthcare inflated its revenues and
financial results through such practices.  On November 7, 2002, Tenet
shares lost approximately 50% of their remaining value after
announcing:

     (1) the resignation of Tenet's COO and CFO; and

     (2) that it would withdraw previously issued financial guidance
         pending a review of its billing practices.

Tenet Healthcare has hired an outside medical auditor to review the
allegations against its doctors, and has said it will review all of its
hospitals that generate high levels of "outlier" payments (which are
designed to defray losses suffered by hospitals whose patients' care
exceeds fixed reimbursements).

The U.S. Department of Health and Human Services said last month that
it would review such payments next year as part of its routine work. On
average, for-profit hospitals derive 5% of their Medicare reimbursement
payments from outlier payments. 23% of Tenet Healthcare's Medicare
payments during fiscal 2003 were to be in the form of outlier payments.

For more details, contact Ira M. Press or Orie Braun by Mail: 830 Third
Avenue, 10th Floor, New York, New York 10022 by Phone: 212-317-2300 or
Toll Free 888-529-4787 by E-Mail: obraun@kmslaw.com or visit the firm's
Website: http://www.kmslaw.com


UNDERWRITERS LITIGATION: Rabin & Peckel Files Securities Suit in OH
--------------------------------------------------------------------
Rabin & Peckel LLP initiated a securities class action in the United
States District Court for the Southern District of Ohio, Eastern
Division, civil action number C2-02-1104, on behalf of all persons or
entities who purchased or otherwise acquired Equity Units of American
Electric Power Company, Inc. (NYSE:AEP) on or traceable to AEP's pubic
offering between June 6, 2002 and October 9, 2002, both dates
inclusive.

The suit alleges that the Coampny, certain AEP officers and directors,
Goldman Sachs & Co., JP Morgan Securities Inc., and Salomon Smith
Barney Inc. violated section 11 of the Securities Act of 1933.
Specifically, it is alleged that defendants made material
misrepresentations in AEP's Registration Statement, Prospectus and
Prospectus Supplement (Offering Documents) for the offering of 6
million 9.25% AEP Equity Units at $50 per Unit, and which resulted in
artificially inflating the price of the Equity Units.

Defendants allegedly materially overstated AEP's revenues and financial
results in the Offering Documents, and failed to disclose that five AEP
traders had been dismissed for reporting false and misleading energy
pricing information for the use in indexes compiled by trade
publications, and that AEP had engaged in "round trip" or "wash" energy
transactions.

On October 9, 2002, when defendants finally revealed this information,
AEP Equity Units closed at $27.75, a drop of almost 45% from the
Offering price.

For more details, contact Eric J. Belfi or Sharon Lee by Phone:
800-497-8076 or 212-682-1818 by Fax: 212-682-1892 by E-mail:
email@rabinlaw.com or visit the firm's Website: http://www.rabinlaw.com
                  

                              *********



S U B S C R I P T I O N   I N F O R M A T I O N

Class Action Reporter is a daily newsletter, co-published by
Bankruptcy Creditors' Service, Inc., Trenton, New Jersey, and
Beard Group, Inc., Washington, D.C.  Enid Sterling, Aurora Fatima
Antonio and Lyndsey Resnick, Editors.

Copyright 2002.  All rights reserved.  ISSN 1525-2272.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic re-
mailing and photocopying) is strictly prohibited without prior written
permission of the publishers.

Information contained herein is obtained from sources believed to be
reliable, but is not guaranteed.

The CAR subscription rate is $575 for six months delivered via e-mail.  
Additional e-mail subscriptions for members of the same firm for the
term of the initial subscription or balance thereof are $25 each.  For
subscription information, contact Christopher Beard at 240/629-3300.

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