CAR_Public/030611.mbx               C L A S S   A C T I O N   R E P O R T E R
  
               Wednesday, June 11, 2003, Vol. 5, No. 114

                            Headlines                            

AGENT ORANGE: Supreme Court Divided on Agent Orange Litigation
AMERICAN AIRLINES: Ex-TWA Pilots To Testify in Senate Hearing
BROWN & WILLIAMSON: Receives Stay in IL Light Cigarettes Lawsuit
CREDIT CARDS: Parties in Visa, Mastercard Lawsuit Sign Agreement
ENRON CORPORATION: Mediator Backs out of Bankruptcy Proceedings

GENERAL MOTORS: To Recall About 107T Buick Rendezvous Vehicles
GOLDEN STREAM: Recalls 8 oz Island Crunch Mix For Allergy Hazard
JENNIFER CONVERTIBLES: Fairness Hearing Set September 2003 in NY
KIEN IMPORT: Recalls Pickled Rootlets For Undeclared Sulfites
KOREA: Civic Group Urges Implementation of Class Action System

MICROSOFT CORPORATION: EU to Refrain From Setting Probe Deadline
NEVADA: Governor Signs Law Protecting Homebuilders From Lawsuits
NEW ORLEANS: Lawsuit For Garbage Dump Residents Nears Trial Date
PACIFIC SMOKING: Recalls Salmon Due To Listeria Contamination
PARLUX FRAGRANCES: Investors Launch Suit V. Taking Firm Private

PHARMACEUTICAL FIRMS: Kenneth Moll To File Personal Injury Suit
SUMMIT IMPORT: Recalls Macapuno Item Due To Undeclared Sulfites


                   Meetings, Conferences & Seminars

* Scheduled Events for Class Action Professionals
* Online Teleconferences

                    New Securities Fraud Cases

ALLOU HEALTHCARE: Berman DeValerio Lodges Securities Suit in NY
ALLOU HEALTHCARE: Shalov Stone Files Securities Suit in E.D. NY
DAISYTEK INTERNATIONAL: Federman & Sherwood Begins TX Stock Suit
IMPERIAL CHEMICAL: Wolf Haldenstein Lodges Securities Suit in NY
MERILL LYNCH: Pomerantz Haudek Files Securities Suit in S.D. NY

MORGAN STANLEY: Shapiro Haber Lodges Securities Suit in S.D. NY
PATRIOT AMERICAN: Milberg Weiss Files Securities Suit in N.D. CA
RECOTON CORPORATION: Schiffrin & Barroway Files Stock Suit in FL
REGENERON PHARMACEUTICALS: Kirby McInerney Files Securities Suit
TYCO INTERNATIONAL: Bernard Gross Lodges Securities Suit in NY

                           *********

AGENT ORANGE: Supreme Court Divided on Agent Orange Litigation
--------------------------------------------------------------
The United States Supreme Court is divided on whether Vietnam
veterans should be allowed to sue chemical companies over Agent
Orange exposure, the Associated Press reports.  Agent Orange is
an herbicide used in the 1960s and 1970s to clear dense jungle
foliage that provided cover for enemy forces.

In 1984, companies that made the herbicide like Dow Chemical
Co., Monsanto Co. and others, reached a $180 million settlement,
which they thought would end the litigation.  They tried to
reach veterans with ads in local and national newspapers and
magazines.

Two war veterans filed claims almost ten years after the
litigation, saying they were wrongly shut out of the settlement.  
Joe Isaacson, a vice principal in Irvington, NJ and Daniel
Stephenson, a retired helicopter pilot living in Florida, both
claimed their constitutional rights were violated by the
settlement.  They told the court that although the Vietnam War
ended 30 years ago, some war-related illnesses are just being
discovered.  The two men claimed their cancers are related to
Agent Orange.

The justices voted 4-4 on whether it's too late for the veterans
to sue.  The court, however, allowed the vets to continue
lawsuits claiming they were wrongly shut out of the settlement.  
The court ordered more consideration of Mr. Isaacson's claims,
and left undisturbed a decision that allowed Mr. Stephenson's
lawsuit.

A ninth Justice, John Paul Stevens recused himself from voting.  
He did not give a reason for his recusal, but his only son was a
Vietnam veteran who apparently suffered from cancer before his
death in 1996 at age 47.

The court was asked two questions in the suit.  First, whether
people who are unaware of their involvement in a class action
suit are allowed to argue later that they were not property
represented and second, what standard should be used if those
lawsuits are allowed, the Associated Press reports.  The court
did not answer these questions.  The effect of tie votes, which
are extremely rare at the court, is to affirm the 2nd US Circuit
Court of Appeals judgment and allow litigation to proceed in the
lower court.

Business groups had feared a ruling that would threaten to
reopen many class action settlements at a cost of millions or
possibly billions of dollars.  Groups like the Veterans of
Foreign Wars and the American Legion urged the court to fix what
they called an injustice against people "who survived the
bullets and bombs of the enemy" but are now dying of cancer, AP
states.


AMERICAN AIRLINES: Ex-TWA Pilots To Testify in Senate Hearing
-------------------------------------------------------------
The leaders of a group of 2,300 former TWA pilots are welcoming
the chance to take their "horror story" of the merger with
American Airlines before a special, June 12, 2003, US Senate
hearing chaired by Missouri Sen. Kit Bond.

"We commend Sen. Bond and his colleagues for the courage and the
wisdom to chair this special hearing," said First Officer John
Hefley speaking for TWA Pilots for Justice, the group of former
TWA pilots fighting to regain reinstatement of lost seniority
and more than 1,400 jobs to date in the aftermath of the airline
integration.  "It is time the Congress and the American people
learned how more than 2,300 ex-TWA pilots and their families
were deceived and victimized in the consolidation."

Sen. Bond will chair the US Senate Health, Education, Labor and
Pension Committee, which has called before the committee the key
players in the events surrounding the merger, including leaders
of the airlines and their pilots and flight attendants unions.  
Sen. Bond's home state has been a major casualty in the airline
merger with thousands of Missouri residents who formerly worked
for TWA losing their jobs.

Witnesses will include former TWA First Officer and Pilot Ted
Case.  Mr. Case had accumulated 13 plus years as a pilot with
TWA, but was stripped of all years of seniority when he joined
American on April 10, 2001.  He was also a union representative
for the TWA pilots during the merger discussions and is a co-
plaintiff in the federal class action filed by the pilots.

"This was a case of skyway robbery and that will be evident from
the hearing," said Mr. Case.  "I will be appearing on behalf of
all my colleagues and every American worker who holds so dear
the fundamental principle of seniority.  What happened to us was
wrong, needs to be corrected, and should never be allowed to
happen again to another worker in this country."


BROWN & WILLIAMSON: Receives Stay in IL Light Cigarettes Lawsuit
----------------------------------------------------------------
Tobacco giant Brown & Williamson Tobacco Corporation was granted
a stay in the "lights" cigarettes class action filed in the same
Illinois jurisdiction where a judge found against rival Philip
Morris USA in a similar suit earlier this year, Reuters reports.

In March, the Madison County Circuit Court ordered Philip Morris
to pay a $10.1 billion fine in a lawsuit charging it with
misleading smokers into thinking light cigarettes were safer
than regular cigarettes.  The court stayed all further
proceedings in the case against the Company because issues on
appeal in the case against Philip Morris would directly impact
the case against Brown & Williamson, the Louisville, Kentucky-
based company said, according to Reuters.

Philip Morris USA, Altria Group Inc.'s (MO) U.S. tobacco unit,
is waiting to hear whether the Illinois Supreme Court will
accept a direct appeal of the $10.1 billion verdict.  If
accepted, a direct appeal would bypass the state's intermediate
appellate court.


CREDIT CARDS: Parties in Visa, Mastercard Lawsuit Sign Agreement
----------------------------------------------------------------
Formal settlement agreements have been signed by parties in the
antitrust case against Visa USA and MasterCard International.  
The multi-billion dollar agreement will be submitted in US
District Court in Brooklyn, New York to Judge John Gleeson for
preliminary approval.
  
"The pay out to merchants will be easy, fair, and equitable.  
The payment amount will be based on a merchant's volume of debit
card transactions between October 25, 1992 and the May 2003
settlement," said Lloyd Constantine, the lead counsel for the
merchants and a principle in the New York firm Constantine &
Partners.  "The changes in Visa and MasterCard's business
practices, beginning August 1, will bring even larger economic
benefits for merchants as offline debit interchange fees drop.  
In the long run, this settlement offers more choice and a
positive pricing effect for consumers."

According to the settlement terms, Visa is set to pay $2.025
billion to merchants over the next 10 years and MasterCard is
set to pay $1.025 billion over the same period.  By December 22,
2003, Visa and MasterCard must pay $350 million to the
settlement fund and then pay $300 million every year for the
next nine years.

However, both Visa and MasterCard have agreed to cooperate in an
effort to secure financing to allow a one-time complete payment
to merchants next year.  That would allow merchants to receive
one check, instead of getting ten fractional payments over ten
years.

"This process would save a significant amount in administrative
costs, upward of $100 million, so we expect that the total of
the single check merchants would receive would be worth
significantly more than the total they would have received in
ten checks over ten years," said Mr. Constantine.

The agreements also state that Visa and MasterCard will lower
fees on offline signature debit card transactions beginning
August 1, 2003, saving merchants more than $1 billion for the
remainder of this year.  As of January 1, 2004, merchants will
no longer be forced to comply with the credit card associations'
tying arrangements that required them to accept all Visa and
MasterCard debit card products if they accepted the
associations' credit cards.

Visa and MasterCard have agreed to make their database of debit
card transactions available so that notice and the allocation of
payments to merchants will be completed quickly, cost
effectively, and accurately.

"In effect, this will mean most merchants will be able to
receive a claim with minimal paperwork," said Mr. Constantine.  
"If a merchant questions the payment they will be able to
complete a more detailed form to ensure that they receive the
proper payment."

The lawsuit, filed in October 1996, by Sears Roebuck, Wal-Mart,
The Limited, Safeway, Circuit City, and three trade associations
charged Visa and MasterCard with violating US antitrust law by
monopolistic and anticompetitive business practices concerning
debit cards.  The lawsuit was certified as a class action and
now includes more than five million merchants.

The settlements with Visa and MasterCard were reached earlier
this year as a trial was scheduled to begin in federal court.
The specifics of the plan of allocation for the merchants'
payments are scheduled for submission to the court on August 18.  
The parties will seek final approval of the agreement by Judge
Gleeson in late September.


ENRON CORPORATION: Mediator Backs out of Bankruptcy Proceedings
---------------------------------------------------------------
The mediator in civil and bankruptcy proceedings involving Enron
Corporation bowed out before the process began, the Associated
Press reports.  

Manhattan federal judge Kevin T. Duffy was tasked with helping
Enron, shareholders who've sued the energy company and financial
institutions Enron says gave it bad advice settle their
differences.  Judges Arthur J. Gonzalez, who is handling Enron's
bankruptcy case in Manhattan, and Houston federal District Judge
Melinda Harmon, who is overseeing suits brought by shareholders
and others, appointed Judge Duffy.

"Any delay is a slight setback, but we know they'll get someone
else," Brian Rosen, a lawyer representing Enron in bankruptcy
proceedings told AP.

"We await the new appointment and look forward to getting the
process underway," said Trey Davis, a spokesman for the
University of California, the lead plaintiff in the shareholders
suit against Enron, AP states.

Although he isn't involved in the Enron situation, Andrew Barton
of the American Arbitration Association, an organization that
develops rules that guide alternative dispute resolution, told
AP conflicts of interest are a frequent reason mediators step
down.  "Mediators back out when they discover conflicts of
interest," he said.  "I don't know what happened (in this case),
but it's generally a conflict of interest" that prompts a
change.

A new mediator will be named soon, although Mr. Rosen told AP
Enron hasn't been advised of any time frame more specific than
that.


GENERAL MOTORS: To Recall About 107T Buick Rendezvous Vehicles
--------------------------------------------------------------
General Motors Corporation will recall about 107,000 model year
2002 and 2003 Buick Rendezvous vehicles to repair its rear
liftgate, the Associated Press reports.  95,000 of the sports
utility vehicles are in the United States, while 12,000 are in
Canada.

In severe crashes, the liftgate structure may fracture and may
separate from the latch assembly and open.  In one case, GM
said, a person in a vehicle was injured after the liftgate tore
away from the latch.  The Company will fix the liftgate by
adding a metal strap between the inner and outer panels.  The
repair will be done at no cost to owners, the Associated Press
states.


GOLDEN STREAM: Recalls 8 oz Island Crunch Mix For Allergy Hazard
----------------------------------------------------------------
Golden Stream Quality Foods of Fishers, IN is recalling its 8
oz. packages of Island Crunch Mix because they may contain
undeclared cashews.  People who have allergies to cashews run
the risk of serious or life threatening allergic reaction if
they consume these products.

The Island Crunch Mix was distributed to retail stores in the
following states: AL, AZ, CA, CO, FL, GA, HI, IL, IN, KS, KY,
LA, MA, MD, MI, MN, MO, MS, NC, NE, NY, OH, PA, SC, TN, TX, VA,
WA and WI.  The products affected would have a "best by date"
between 100303 and 050504.  The product comes in an 8 oz.
preprinted plastic stand up bag.

No illnesses have been reported to date in connection with this
problem.  The recall was initiated after routine quality
inspections discovered the cashew-containing product was
distributed in packaging that did not reveal the presence of
cashews.  In order to maintain the highest quality control, the
company has already conducted a process audit and has
implemented the appropriate corrective actions during the
processing and packaging process.

For more details, contact the Company by Phone: 317-567-2726.


JENNIFER CONVERTIBLES: Fairness Hearing Set September 2003 in NY
----------------------------------------------------------------
Fairness hearing for the settlement proposed by Jennifer
Convertibles to settle the securities class action filed against
it is set for September 19,2003 in the United States District
Court for the Eastern District of New York.  The suit was filed
on behalf of all persons or entities who purchased or otherwise
acquired Jennifer Convertibles Common Stock from November
24,1993 to December 2,1994.

The hearing is to:

     (1) determine whether the proposed settlement of this class
         action for up to $2,250,000 in cash should be approved
         by the Court as fair, reasonable and adequate and
         whether the litigation should be dismissed;

     (2) whether the application for an award of attorneys' fees
         and reimbursement of expenses should be approved; and

     (3) whether Plaintiffs' proposed plan of allocation should
         be approved.  

The court may continue or adjourn the hearing without further
notice to the members of the class.

For more details, contact Jeffrey H. Squire or Lewis Sandler by
Mail: 830 Third Avenue, New York, NY 10022 or contact David L.
Wales of Wolf Haldenstein Adler Freeman & Herz, LLP by Mail: 270
Madison Avenue, New York, NY 10016


KIEN IMPORT: Recalls Pickled Rootlets For Undeclared Sulfites
-------------------------------------------------------------
Kien Import Corporation is recalling 15oz. glass jars of K.
McGill Brand Pickled Lotus Rootlets because the product contains
undeclared sulfites.  People who have severe sensitivity to
sulfites run the risk of serious or life threatening allergic
reactions if they consume this product.  No illnesses have been
reported to date in connection with this product.

The Pickled Lotus Rootlets, a product of Vietnam, was
distributed nationwide to retail stores in uncoded, 15oz. glass
jars.  The recall was initiated after it was discovered through
routine sampling by NYS Dept. of Agriculture & Markets food
inspectors that the product containing sulfites was distributed
in packaging that did not declare the presence of sulfites.  The
consumption of 10 milligrams of sulfites per serving has been
reported to elicit severe reactions in some asthmatics.  
Anaphylactic shock could occur in certain sulfite sensitive
individuals upon ingesting 10 milligrams or more of sulfites.
Analysis of the Pickled Lotus Rootlets revealed that it
contained greater than l0 mg of sulfites per serving.

Establishments and consumers who have purchased the 15oz. glass
jars of K. McGill Brand Pickled Lotus Rootlets can return the
product to the place of purchase for a full refund.  For more
details, contact the Company by Phone: 718-349-8282.


KOREA: Civic Group Urges Implementation of Class Action System
--------------------------------------------------------------
A civic group urged Korean lawmakers to introduce the system
allowing class action lawsuits to be filed against companies
engaged in accounting fraud and false disclosures without delay,
the Korea Times reports.

The People's Solidarity for Participatory Democracy (PSPD) said
that giving fraud-ridden companies a two-year grace period to
clean up their balance sheets implies that fraudulent accounting
is prevalent in the local market.  The PSPD also said the class
action system should allow retail investors to sue any
fraudulent companies, regardless of the size of the companies.


MICROSOFT CORPORATION: EU to Refrain From Setting Probe Deadline
----------------------------------------------------------------
The European Union will resist announcing a deadline for its
four-year investigation of software giant Microsoft Corporation
over allegations of antitrust law violations, the Associated
Press reports.  

"We will now resist media pressure (to offer deadlines)," EU
spokeswoman Amelia Torres said in a regular news briefing, AP
states.  "From now on, no more predictions.

The Company was accused of illegally bundling its media player
into its Windows operating system and withholding key
information from rivals to try to win more of the market in
software for computer servers.

According to The New York Times, the Commission sent a
questionnaire to music and movie companies two months ago,
asking them how they view the technologies they use to
disseminate material over the Internet.  Microsoft argues that
its 2002 settlement with US authorities, combined with
additional steps it has taken, should satisfy European
regulators.  The Commission also is studying complaints
Microsoft is leveraging its Windows monopoly into new markets,
including mobile phones.

The EU has been thinking about the legal and political
implications of cracking down on the US software giant and
announced that a final ruling was months away.  The Commission
has been wrestling with how far to push Microsoft for remedies,
such as an order to spin off its media player, which lets
computer users listen to music and watch video clips, AP states.


NEVADA: Governor Signs Law Protecting Homebuilders From Lawsuits
----------------------------------------------------------------
Nevada governor Kenny Guinn signed into law Bill SB241, a
compromise legislating requiring what builders call a "right to
repair" before Nevada homeowners can sue for construction
defects, the Reno Gazette & Journal reports.

Under the new law, homeowners are required to issue formal
complaints about the defects in their houses to a builder before
filing a lawsuit.  The homeowner could only file a lawsuit if
the builder didn't respond to the complaint within three months
or didn't fix the problem.  

If builders elect to repair defects, all repairs must be
completed within 105 days if the problems are in up to four
homes, and 150 days if the defects are in five or more homes.  
When a homeowner notifies a builder of a defect common
throughout an association or neighborhood, the builder may send
a notice to other homeowners who have similar homes constructed
by the builder but haven't yet filed a complaint.  If the notice
isn't sent, those homeowners could go straight to court. If a
notice is sent, defects are found and a repair is requested,
repairs would have to be completed within 105 days, the Reno
Gazette & Journal reports.

The SB421 was instituted after lawsuits flooded the fast-growing
Western states such as Arizona and California.  More than 100
such suits are crowding Las Vegas courts, as these areas now
host sprawling developments built quickly to accommodate
tremendous growth.


NEW ORLEANS: Lawsuit For Garbage Dump Residents Nears Trial Date
----------------------------------------------------------------
Recently, Civil District Judge Nadine Ramsey ruled that the 1993
lawsuit, brought by residents seeking compensation for living
atop an old, contaminated city garbage dump, should proceed, a
ruling which Linda Harang, attorney for the Agriculture Street
Landfill residents, said could  move the case to trial by June
2004.

The lawsuit was filed against the city of New Orleans, the
Orleans Parish School Board and the Housing Authority of New
Orleans, the Associated Press Newswires reports.  The three
defendants said they would appeal.

The residents include people who lived in two residential
developments built atop the Agriculture Street Landfill, the
city's main garbage dump from 1909 to 1958.  The Environmental
Protection Agency found 149 chemicals, including lead and
arsenic, in soil beneath the homes.  The residents ask, in their
lawsuit, to be included in a 10-year health program to identify
potential medical problems.  They also are seeking to be
compensated for lost property value, the cost of relocation and
emotional damages.

Lawyers for the defendants unsuccessfully tried to get community
activists to say they had known of contamination risks for a
long time.  Such an admission could have resulted in the judge
ruling that the residents had waited too long to file their
lawsuit.

Community leaders said that until they were notified by the EPA
that their property was under strong consideration to become
part of the Superfund site and represented a health hazard, they
did not have proof of the risk they had faced.  The EPA, which
had refused to declare the site eligible as a Superfund site in
1986, used different standards that gave more weight to soil
contamination, and added the site to the list in 1994.


PACIFIC SMOKING: Recalls Salmon Due To Listeria Contamination
-------------------------------------------------------------
Pacific Smoking Co. is recalling 433.55 pounds of Pacific
Seafood Northwest Style Smoked Salmon, because it has the
potential to be contaminated with Listeria monocytogenes, an
organism which can cause serious and sometimes fatal infections
in young children, frail or elderly people, and others with
weakened immune systems.

Although healthy individuals may suffer only short-term symptoms
such as high fever, severe headache, stiffness, nausea,
abdominal pain and diarrhea, Listeria infection can cause
miscarriages and stillbirths among pregnant women.

Pacific Seafood Northwest Style Smoked Salmon was distributed in
Washington and Oregon through food service and retail outlets.  
The smoked salmon is vacuumed packaged in approximate one half
to one pound packages.  Each package has an orange sticker with
the lot numbers 033121, 073103.

No illnesses relating to this product have been reported to
date.  The potential for contamination was noted after routine
FDA testing revealed the presence of Listeria monocytogenes in
retail packs of smoked salmon.

For more details, contact the Company by Phone: 503-905-4446.


PARLUX FRAGRANCES: Investors Launch Suit V. Taking Firm Private
---------------------------------------------------------------
Shareholders of Parlux Fragrances filed a class action in
Delaware to block an attempt by Chairman Ilia Lekach and a New
York firm, Quality King Distributors, to take the Fort
Lauderdale company private, The Miami Herald reports.

The lawsuit claims that the $4 a share offer is "unfair and
grossly inadequate" because the stock is worth more given its
current price and the company's prospects.  Mr. Lekach timed his
offer to take advantage of the decline in the market price of
Parlux's stock," the lawsuit claims.   The effect is to cap the
market for the shares so he can buy "the public interest in
Parlux as cheaply as possible," the lawsuit further claims.

Privately held Quality King Distributors, a health and beauty
products distributor based in Ronkonkoma, New York, and Parlux
first announced talks in October.  In January, they said they
had not reached a deal.

Quality King and Mr. Lekach announced May 19, 2003, after the
market had closed, that they wanted to acquire the stock of
Parlux, a perfume maker and distributor.  Mr. Lekach currently
owns 31 percent of the 10 million outstanding shares.  That day
shares closed at $2. 50.  The next day Parlux shot up to $3.70.

After the latest announcement, the company said on May 22, that
it had appointed a committee of directors to evaluate, negotiate
and approve or disapprove the transaction.  The shareholders
class action, whose lead plaintiff is Judy Altman, was filed the
next day, to block the attempt to take the company private.

Committee deliberations could last from three weeks to a few
months, said Frank Buttacavoli, Parlux's chief financial
officer.


PHARMACEUTICAL FIRMS: Kenneth Moll To File Personal Injury Suit
---------------------------------------------------------------
Kenneth B. Moll & Associates, Ltd. will be filing a worldwide
class action against certain pharmaceutical firms that sold
contaminated blood products that resulted in serious injuries
and deaths worldwide.  To be named in the suits are:

     (1) Bayer Corporation,

     (2) Bayer AG,

     (3) Cutter Biological,

     (4) Baxter Healthcare Corporation,

     (5) Armour Pharmaceutical Company, Inc.,

     (6) Aventis Behring LLC,

     (7) Aventis, Inc., and

     (8) Alpha Therapeutic Corporation

According to Kenneth B. Moll & Associates, Ltd., American
pharmaceutical corporations manufactured and sold blood-clotting
products known as "Factor VIII" and "Factor IX" for the
treatment of hemophilia which were contaminated with the viruses
that cause AIDS and Hepatitis C (HIV and HCV).

According to the Chicago-based firm, products were manufactured
using human blood plasma from paid American donors who were in
high-risk populations for these diseases, specifically prisoners
and intravenous drug users.  Due to the AIDS epidemic of the
early 1980s, scientists developed a thermal process by which
blood-clotting products were to be treated, thereby killing any
contaminants.

However, according to a New York Times article published on May
22, 2003, these companies continued to sell the untreated,
contaminated blood-clotting products outside of the United
States after the safe versions of the products were available
and sold within the United States.  Consequently, hemophiliacs
outside of the United States continued to receive blood-clotting
products that were known to be potentially contaminated with the
HIV and HCV viruses throughout the mid-1980s.

According to the firm, over 10,000 hemophiliacs around the world
were infected with HIV and/or HCV from blood-clotting products
manufactured by these American pharmaceutical companies.  
Thousands more throughout the world may have contracted AIDS
and/or Hepatitis C as a result of this contamination.  Numerous
countries around the world received contaminated blood-clotting
products from these American pharmaceutical companies.  A large
amount of the contaminated blood-clotting products were sent to
Malaysia, Singapore, Indonesia, Japan, Hong Kong, Taiwan,
Argentina, Italy, Germany, Ireland, the Netherlands and the
United Kingdom.

Attorney Kenneth B. Moll, whose firm has represented clients in
over 40 countries, states, "the primary goals of this lawsuit
are to inform the public of the egregious conduct of these
pharmaceutical manufacturers and to provide compensation to the
victims of this contamination."

For more information, contact Kenneth B. Moll by Phone:
312/558-6444 by Fax: 312/558-1112 by E-mail: lawyers@kbmoll.com
or visit the firm's website: http://www.kbmoll.com


SUMMIT IMPORT: Recalls Macapuno Item Due To Undeclared Sulfites
---------------------------------------------------------------
Summit Import Corporation is recalling 12 ounce bottles of
Masagana Brand Macapuno Strings because they may contain
undeclared sulfites.  People who have allergies to sulfites run
the risk of serious or life-threatening allergic reactions if
they consume this product.

The recalled Macapuno Strings were distributed to retail stores
in NY, VA and MD.  The product comes in 12 ounce, clear glass
bottles, with no apparent code.  No illnesses have been reported
to date in connection with this problem.

The recall was initiated after it was discovered through routine
sampling by New York Department of Agriculture and Markets Food
Inspectors that the sulfite containing product was distributed
in packaging that did not reveal the presence of sulfites.  The
consumption of 10 milligrams of sulfites per serving has been
reported to elicit severe reactions in some asthmatics.  
Anaphylactic shock could occur in certain sulfite sensitive
individuals upon ingesting 10 milligrams or more of sulfites.
Analysis of the Macapuno Strings revealed it contained over 10
milligrams per serving.

For more details, contact the Company by Phone: 201-839-2882.


                   Meetings, Conferences & Seminars


* Scheduled Events for Class Action Professionals
-------------------------------------------------

June 12-13, 2003
MOLD LITIGATION CONFERENCE
Mealey Publications
The Ritz-Carlton Hotel Amelia Island, FL
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

June 12-13, 2003
ENVIRONMENTAL INSURANCE: PAST, PRESENT AND FUTURE
American Law Institute
Boston
Contact: 215-243-1614; 800-CLE-NEWS x1614

June 16-17, 2003
LITIGATING EMPLOYMENT DISCRIMINATION & SEXUAL HARASSMENT CLAIMS
Practising Law Institute
PLI New York Center
Contact: 800-260-4PLI; info@pli.edu.

June 16-17, 2003
ASBESTOS LITIGATION 101 CONFERENCE
Mealey Publications
The Fairmont Hotel, Dallas
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

June 19-20, 2003
SECURITIES, DRUGS & ENVIRONMENTAL LITIGATION
MassTortsMadePerfect.Com
Chicago
Contact: 1-800-320-2227; register@masstortsmadeperfect.com

June 24-25, 2003  
SECURITIES CLASS ACTIONS
American Conference Institute
Crowne Plaza Times Square, New York
Contact: 1-888-224-2480; http://www.americanconference.com  

June 26-27, 2003
THE CLASS ACTION LITIGATION SUMMIT
Northstar Conferences
The Westin Embassy Row, Washington, DC
Contact: 866-265-1975; 212-596-6006;
cservice@northstarconferences.com

July 15, 2003
LEXISNEXIS PRESENTS: WALL STREET FORUM: MASS TORT LITIGATION
Mealey Publications
The Ritz-Carlton Hotel, Battery Park, New York
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

July 16-17, 2003
MANAGING MOLD LIABILITIES
Bridgeport Continuing Education
San Francisco
Contact: 818-505-1490

July 31-August 1, 2003  
CLASS ACTION LITIGATION 2003: PROSECUTION AND DEFENSE STRATEGIES
Practising Law Institute
PLI New York Center
Contact: 800-260-4PLI; info@pli.edu.

August 1, 2003
CLASS ACTION LITIGATION 2003: PROSECUTION AND DEFENSE STRATEGIES
Practising Law Institute
PLI New York Center
Contact: 800-260-4PLI; info@pli.edu.

August 26-27, 2003
THE ANNUAL MANAGING MOLD LIABILITIES CONFERENCE
FROM CONSTRUCTION THROUGH TRIAL
Bridgeport Continuing Education
Contact: http://www.reconferences.com;818-505-1490

September 8-9, 2003
CORPORATE GOVERNANCE: LIABILITY OF CORPORATE
OFFICERS AND DIRECTORS
Mealey Publications
The Ritz-Carlton Hotel Amelia Island, FL
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

September 8-9, 2003
NATIONAL ASBESTOS LITIGATION CONFERENCE
Mealey Publications
The Ritz-Carlton Hotel Chicago
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

September 11-12, 2003
MASS TORT LITIGATION TOOLS FOR PARALEGALS
Mealey Publications
The Westin Hotel, Philadelphia
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

September 15-16, 2003  
SECURITIES LITIGATION & ENFORCEMENT 2003
Practising Law Institute
PLI New York Center
Contact: 800-260-4PLI; info@pli.edu.

September 18-19, 2003
REINSURANCE SUMMIT
Mealey Publications
The Westin Hotel, Chicago
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

September 19-21, 2003
THE 20TH TOBACCO PRODUCTS LIABILITY PROJECT CONFERENCE
Northeastern University School of Law
Contact: scuri@tplp.org

September 22-23, 2003
BAD FAITH CONFERENCE
Mealey Publications
The Westin Hotel, Philadelphia
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

September 26, 2003
MANAGING ENVIRONMENTAL RISKS
Bridgeport Continuing Education
Los Angeles
Contact: 818-505-1490

September 29-30, 2003
PRACTICAL SKILLS SERIES: MASS TORT LITIGATION
Mealey Publications
The Ritz-Carlton Hotel, Philadelphia
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com  

September 29-30, 2003
CONSUMER FINANCE CLASS ACTIONS
American Conference Institute
New York City
Contact: 1-888-224-2480; http://www.americanconference.com  

October 2-3, 2003
SECURITIES LITIGATION & ENFORCEMENT 2003
Practising Law Institute
PLI New York Center
Contact: 800-260-4PLI; info@pli.edu.

October 13-14, 2003
SILICA LITIGATION CONFERENCE
Mealey Publications
The Ritz-Carlton Hotel, Atlanta
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com  

October 16-17, 2003
LEAD LITIGATION CONFERENCE
Mealey Publications
Westin Copley Plaza, Boston
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com  

October 24, 2003
7TH ANNUAL NATIONAL INSTITUTE ON CLASS ACTIONS
American Bar Association
San Francisco, CA
Contact: 800-285-2221; abacle@abanet.org

November 6-7, 2003
SECURITIES, DRUGS & ENVIRONMENTAL LITIGATION
MassTortsMadePerfect.Com
Ritz Carlton, New Orleans, Louisiana
Contact: 1-800-320-2227; register@masstortsmadeperfect.com

November 7, 2003
7TH ANNUAL NATIONAL INSTITUTE ON CLASS ACTIONS
American Bar Association
Washington, DC
Contact: 800-285-2221; abacle@abanet.org

November 10-11, 2003
FEN-PHEN LITIGATION CONFERENCE
Mealey Publications
The Four Seasons Hotel, Houston
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com  

November 13-14, 2003
MASS TORT LITIGATION TOOLS FOR PARALEGALS
Mealey Publications
The Westin Bonaventure Hotel, Los Angeles
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com  

November 13-14, 2003
ASBESTOS LITIGATION IN THE 21ST CENTURY
ALI-ABA
New Orleans
Contact: 215-243-1614; 800-CLE-NEWS x1614

November 17, 2003
Water Contamination Litigation Conference
Mealey Publications
Pasadena
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

November 17-18, 2003
INSURANCE ALLOCATION CONFERENCE
Mealey Publications
The Ritz-Carlton Golf Resort, Naples, FL
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

November 18, 2003
MEDICAL MONITORING CONFERENCE
Mealey Publications
The Ritz-Carlton Huntington Hotel & Spa, Pasadena
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

December 8-9, 2003
ASBESTOS PREMISES LIABILITY CONFERENCE
Mealey Publications
The Fairmont Hotel, San Francisco
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

December 8-9, 2003
CALIFORNIA SECTION 17200 CONFERENCE
Mealey Publications
The Fairmont Hotel, San Francisco
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

December 11-12, 2003
CONSTRUCTION DEFECT AND MOLD LITIGATION CONFERENCE
Mealey Publications
The Ritz-Carlton, Lake Las Vegas, Las Vegas
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

December 12, 2003
MOLD LITIGATION 101 CONFERENCE
Mealey Publications
The Ritz-Carlton, Lake Las Vegas, Las Vegas
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

March 18-19, 2004
SECURITIES, DRUGS & ENVIRONMENTAL LITIGATION
MassTortsMadePerfect.Com
The Fairmont, San Francisco, California
Contact: 1-800-320-2227; register@masstortsmadeperfect.com
    
June 10 & 11, 2004
SECURITIES, DRUGS & ENVIRONMENTAL LITIGATION
MassTortsMadePerfect.Com
Atlantis, Paradise Island, Bahamas
Contact: 1-800-320-2227; register@masstortsmadeperfect.com

TBA
FAIR LABOR STANDARDS CONFERENCE
Mealey Publications
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com

TBA
AIRLINE BANKRUPTCY LITIGATION CONFERENCE
Mealey Publications
Contact: 1-800-MEALEYS; 610-768-7800;
mealeyseminars@lexisnexis.com




* Online Teleconferences
------------------------

June 05-30, 2003
NBI PRESENTS "LITIGATING THE CLASS ACTION LAWSUIT IN FLORIDA
Contact: 512-778-5665; info@cleonline.com

June 05-30, 2003
NBI PRESENTS "EMERGING ISSUES IN CALIFORNIA INDOOR AIR QUALITY
AND
TOXIC MOLD LITIGATION.
Contact: 512-778-5665; info@cleonline.com

July 18, 2003
CLASS ACTION OVERVIEW
American Bar Association
Contact: 800-285-2221; abacle@abanet.org

ADVERSARIAL PROCEEDINGS IN ASBESTOS BANKRUPTCIES
LawCommerce.Com/Mealey's
Online Streaming Video
Contact: customerservice@lawcommerce.com

ASBESTOS BANKRUPTCY - PANEL OF CREDITORS COMMITTEE MEMBERS
LawCommerce.Com/Mealey's
Online Streaming Video
Contact: customerservice@lawcommerce.com

EXPERT WITNESS ADMISSIBILITY IN MOLD CASES
LawCommerce.Com/Mealey's
Online Streaming Video
Contact: customerservice@lawcommerce.com

INTRODUCTION TO CLASS ACTIONS AND LARGE RECOVERIES
Big Class Action
Contact: seminars@bigclassaction.com

NON-TRADITIONAL DEFENDANTS IN ASBESTOS LITIGATION
Online Streaming Video
LawCommerce.Com/Mealey's
Contact: customerservice@lawcommerce.com

PAXIL LITIGATION
Online Streaming Video
LawCommerce.Com/Mealey's
Contact: customerservice@lawcommerce.com

RECENT DEVELOPMENTS INVOLVING BAYCOL
Online Streaming Video
LawCommerce.Com/Mealey's
Contact: customerservice@lawcommerce.com

RECOVERIES
Big Class Action
Contact: seminars@bigclassaction.com

SELECTION OF MOLD LITIGATION EXPERTS: WHO YOU NEED ON YOUR TEAM
Online Streaming Video
LawCommerce.Com/Mealey's
Contact: customerservice@lawcommerce.com

SHOULD I FILE A CLASS ACTION?
LawCommerce.Com / Law Education Institute
Contact: customerservice@lawcommerce.com

THE EFFECTS OF ASBESTOS ON THE PULMONARY SYSTEM
Online Streaming Video
LawCommerce.Com/Mealey's
Contact: customerservice@lawcommerce.com

THE STATE OF ASBESTOS LITIGATION: JUDICIAL PANEL DISCUSSION
Online Streaming Video
LawCommerce.Com/Mealey's
Contact: customerservice@lawcommerce.com

TRYING AN ASBESTOS CASE
LawCommerce.Com
Contact: customerservice@lawcommerce.com

THE IMPACT OF LORILLAR ON STATE AND LOCAL REGULATION OF TOBACCO
SALES
AND ADVERSTISING
American Bar Association
Contact: 800-285-2221; abacle@abanet.org

________________________________________________________________
The Meetings, Conferences and Seminars column appears in the
Class Action Reporter each Wednesday. Submissions via e-mail to
carconf@beard.com are encouraged.

                    New Securities Fraud Cases


ALLOU HEALTHCARE: Berman DeValerio Lodges Securities Suit in NY
---------------------------------------------------------------
Berman DeValerio Pease Tabacco Burt & Pucillo filed a securities
class action against the the former top management and outside
auditors of Allou Healthcare Inc. (AMEX:ALU) yesterday, accusing
them of deceiving the public about the bankrupt company's
financial condition.  The lawsuit was filed in the U.S. District
Court for the Eastern District of New York, on behalf of all
investors who bought Allou common stock from June 22, 1998
through April 9, 2003.

The lawsuit claims that the defendants violated Sections 10(b)
and 20(a) of the Securities Exchange Act of 1934 by releasing
false and misleading financial statements about Allou's revenue
and earnings, causing the company's stock to reach an
artificially high price.  For years, Allou reported strong
fiscal growth.  The lawsuit claims that those reports were false
and that Allou depended on loans to operate its business. To
obtain financing, the defendants made material misstatements to
the public throughout the class period, overstating Allou's
inventory and accounts receivable, the lawsuit says.

Eventually, the complaint says, accountants engaged by Allou's
lenders discovered the company had been inflating its financial
results.  On April 9, 2003, Allou announced that its lenders had
filed an involuntary petition for Chapter 11 bankruptcy against
the company.  Allou consented to the petition shortly after it
had been filed, according to the complaint.  That same day,
Allou also disclosed that its lenders had declared a default of
its credit line.

As a result of these revelations, Allou's stock price plummeted
nearly 26% on April 9 from its closing price the previous day,
before the American Stock Exchange suspended trading in the
stock.  The last listed trading price of $1.07 represents a
91.92% drop from the Class Period high of $13.25, which occurred
on April 21, 1999.

For more details, contact Michael T. Matraia or Mark Booker by
Mail: One Liberty Square, Boston, MA 02109 by Phone:
(800) 516-9926 or by E-mail: law@bermanesq.com


ALLOU HEALTHCARE: Shalov Stone Files Securities Suit in E.D. NY
----------------------------------------------------------------
Shalov Stone & Bonner LLP initiated a securities class action on
behalf of all persons who suffered damages as a result of their
acquisition of the common shares of Allou Healthcare Inc. (AMEX:
ALU) during the period June 22, 1998 through and including April
9, 2003.  The complaint names as defendants:

    (1) Victor Jacobs,

    (2) Herman Jacobs,

    (3) David Shamilzadeh,

     (4) Mayer Rispler & Co., PC,

     (5) Arthur Andersen LLP and

     (6) KPMG LLP

The action is pending in the United States District Court for
the Eastern District of New York.  The complaint alleges that
defendants violated Sections 10(b) and 20(a) of the Securities
Exchange Act of 1934, by issuing a series of material
misrepresentations to the market during the class period,
thereby artificially inflating the price of Allou securities.

The complaint alleges, among other things, that Allou materially
overstated its accounts receivable by at least $78 million, and
thereby overstated its revenues, earnings and net worth.  On
April 9, 2003, Allou announced that "its lenders have filed an
involuntary petition for bankruptcy in the Eastern District of
New York under the provisions of chapter 11, title 11, of the
United States Code."  Following this news, on April 9, 2003,
AMEX suspended trading in Allou's common stock.

Thereafter, press reports revealed that an outside restructuring
expert that had been retained to run Allou discovered, among
other things, that "only $30 million of $108 million in accounts
receivable reported by Allou to its banks seemed to be valid."  
The Company thereafter announced further overstatements and that
it had retained a forensic accounting firm to investigate the
company's financial reports.

For more details, contact Susie Cowen by Mail: 485 7th Avenue,
Suite 1000, New York, NY 10018 by Phone: (212) 239-4340 or by E-
mail: scowen@lawssb.com.   


DAISYTEK INTERNATIONAL: Federman & Sherwood Begins TX Stock Suit
----------------------------------------------------------------
Federman & Sherwood filed a securities class action in the
United States District Court for the Northern District of Texas
on behalf of persons who acquired the securities of Daisytek
International Corporation (Nasdaq: DZTKQ) between November 9,
2001 and April 28, 2003,

The complaint alleges that certain of Daisytek's former officers
and directors violated the federal securities laws by filing
false financial reports with the SEC during the class period.  
The complaint alleges that the defendants knew or should have
known that the reports did not properly report Daisytek's
uncollectible customer accounts during the class period.

For more details, contact William B. Federman by Mail: 120 N.
Robinson, Suite 2720, Oklahoma City, OK 73102 by Phone:
(405) 235-1560 by Fax: (405) 239-2112 or by E-mail:
wfederman@aol.com


IMPERIAL CHEMICAL: Wolf Haldenstein Lodges Securities Suit in NY
----------------------------------------------------------------
Wolf Haldenstein Adler Freeman & Herz 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 or otherwise acquired the American Depository Shares
of Imperial Chemical Industries PLC (NYSE: ICI) between August
1, 2002 and March 24, 2003, inclusive, against ICI and certain
officers of the Company.

During the Class Period, defendants issued numerous press
releases to the investing public representing that they had
resolved the Company's distribution and software problems that
ICI had experienced at its Quest division's Fragrance and Food
businesses.  Defendants further represented that ICI was on
track to report strong financial results that the Company had
cleared its backlog of customer orders and that it had not lost
any customers as a result of its production problems.

Defendants' statements were materially false and misleading
because they failed to disclose and/or misrepresented the
following adverse facts, among others:

     (1) that ICI's software, distribution and production
         problems at its Quest division were not "temporary"
         problems or "unique" to the Naarden, The Netherlands
         location, but influenced company-wide operations and
         profitability;

     (2) that ICI's software, distribution and production
         problems at its Quest division had not been
         "essentially" or "largely" "resolved" or "rectified;"
         and

     (3) that contrary to ICI's representations that it had
         cleared its backlog of orders and had not lost any
         customers as a result of the software, distribution and
         production problems at Quest, ICI's customers were, in
         fact, obtaining new sources of supply and discontinuing
         their relationships with the Company.

On March 25, 2003, before the market opened, ICI shocked
investors when it issued a profit warning with respect to its
fiscal 2003 first quarter.  Defendant announced that its first
quarter profit would drop approximately 24%, as a result of,
among other things, "business lost following the customer
service problems in 2002."  

Following this announcement, shares of ICI fell from a close of
$9.60 per share on March 24, 2003 to $6.05 per share on March
25, 2003, or a single-day decline of more than 36% on nearly ten
times normal trading volume.

For more details, contact Fred Taylor Isquith, 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 ICI.


MERILL LYNCH: Pomerantz Haudek Files Securities Suit in S.D. NY
---------------------------------------------------------------
Pomerantz Haudek Block Grossman & Gross LLP initiated a
securities class action in the United States District Court for
the Southern District of New York, against Merrill Lynch Pierce
Fenner & Smith and Phua K. Young, a managing director of Merrill
Lynch, on behalf of investors who purchased the securities of
Tyco International Ltd. (NYSE:TYC) during the period from
September 9, 1999 through May 28, 2003, inclusive.

The lawsuit charges that defendants engaged in an illegal scheme
to defraud Tyco investors in violation of Securities & Exchange
Commission (SEC) Rule 10b-5.  According to the complaint, Mr.
Young wrote and publicly issued hundreds of research reports on
Tyco representing that he was an ``independent'' Merrill Lynch
analyst, when in fact, Mr. Young described himself in an
internal email as a ``LOYAL TYCO EMPLOYEE.''  

It is further alleged that Mr. Young regularly sent drafts of
his research reports to Tyco's Investor Relations Department for
review of his opinions and conclusions, flew on Tyco corporate
jets for business trips, accepted unlawful gifts from Tyco CEO
Dennis Kozlowski, and with respect to at least one published
research report, asked Tyco Investor Relations ``did I not sound
pumped up enough?''

On May 28, 2003, the National Association of Securities Dealers
(NASD) filed a disciplinary proceeding against Mr. Young
alleging numerous violations against him for issuing research
opinions to the marketplace that he did not personally believe
in and which had no reasonable basis.

For more details, contact Andrew G. Tolan by Phone:
(888) 476-6529 / (888) 4-POMLAW or by E-mail: agtolan@pomlaw.com


MORGAN STANLEY: Shapiro Haber Lodges Securities Suit in S.D. NY
---------------------------------------------------------------
Shapiro Haber & Urmy LLP initiated a securities class action
against Morgan Stanley & Co., Inc. (NYSE:MWD) and UBS Warburg
LLC (NYSE:UBS) on behalf of persons who purchased Atmel
Corporation (NasdaqNM:ATML) common stock from February 4, 2000
through July 11, 2001, inclusive.  The action was filed in the
United States District Court for the Southern District of New
York.

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 favorable research reports on Atmel without
disclosing that they had been paid by Atmel for issuing the
reports.

For more details, contact Thomas G. Shapiro, Ted Hess-Mahan, or
Liz Hutton by Mail: 75 State Street, Boston, MA 02109, by Phone:
(800) 287-8119 by Fax: (617) 439-0134, or E-mail:
cases@shulaw.com.


PATRIOT AMERICAN: Milberg Weiss Files Securities Suit in N.D. CA
----------------------------------------------------------------
Milberg Weiss Bershad Hynes & Lerach LLP commenced a securities
class action against Patriot American Hospitality Inc., Wyndham
International Inc. (Wyndham), Paul A. Nussbaum and James D.
Carreker is pending in the United States District Court for the
Northern District of California on behalf of all persons who
purchased or otherwise acquired the paired-shares of Patriot
American and Wyndham during the period between Jan. 5, 1998 and
Dec. 17, 1998 for violations of Sections 10(b) and 20(a) of the
Securities Exchange Act of 1934.

The action was originally filed on August 19, 1999 in the United
States District Court for the Northern District of Texas and is
one of nine lawsuits alleging securities fraud filed in the
Northern District of California or the Northern District of
Texas.  On October 22, 1999, the Judicial Panel on Multidistrict
Litigation (JPML) transferred this action to the United States
District Court for the Northern District of California and
consolidated it with actions pending in that court.  Prior to
transfer and consolidation of these cases, several groups of
plaintiffs filed motions for appointment as lead plaintiff and
for appointment of their attorneys as lead counsel.  The court,
however, stayed the proceedings pending the JPML's final
transfer.  Once the actions were transferred, they were assigned
to the Honorable Vaughn R. Walker.

On October 20, 2000, Judge Walker consolidated the pending
actions for pre-trial purposes, and ordered the parties to
litigate the sufficiency of the pending complaints.  The
defendants then filed their motion to dismiss the complaint.  
After the briefing was completed, the court, on August 15, 2001,
granted the motion to dismiss with leave to amend the claims.  
The complaint was amended on October 15, 2001.  Defendants again
filed a motion to dismiss.  This motion was granted with leave
to amend on September 3, 2002.  On December 2, 2002, a second
amended complaint was filed.

The second amended complaint alleges Patriot American, Wyndham,
Nussbaum and Carreker violated Sections 10(b) and 20(a) of the
Securities Exchange Act of 1934.  Patriot American went public
in 1995 as a real estate investment trust (REIT).  In 1996,
Patriot American bought the California Jockey Club and Bay
Meadows Operating Co., which operated as a paired-share REIT,
and adopted this advantageous tax status after consummation of
the purchase.  Operating as a paired-share REIT allowed Patriot
American to both own and operate hotels while at the same time
sheltering income and availing itself of the tax benefits, which
included not paying federal taxes.

In mid to late 1997, Mr. Nussbaum hired William Evans, a full-
time, in-house investment banker, to maintain the flow of
capital Patriot American needed for acquisitions, and then went
on a hotel buying spree.  Beginning in late 1997, defendants
caused Patriot to enter into the first of three forward-equity
contracts, disregarding the extreme risks associated with these
loans.  According to statements made by Mr. Rex Stewart, former
CFO of Patriot American, as soon as Mr. Evans arrived at the
Company in mid to late 1997, Mr. Stewart was "kept out of the
loop on capital decisions," and was never consulted regarding
the defendants' decision to issue the forward-equity contracts.
Defendants borrowed a total of $354 million using the three
forward-equity contracts, which were structured so that, in
effect, Patriot sold over 13.3 million shares of its stock at
approximately $26.21 per share (which over one year later the
Company would be required to buy back at that price) to raise
capital for use in making acquisitions.  This enabled defendants
to purchase over $5.3 billion of assets within an 18-month
period, including $4.5 billion during the class period.

The class period begins on January 5, 1998, with Patriot
American's announcement of its acquisition of Wyndham.  
Together, Wyndham and Patriot American are referred to as
"Patriot" or the "Company."  Defendants proclaimed that they had
the "necessary components ... in place to facilitate rapid
growth" and had worked closely to ensure that they were
"developing the best possible infrastructure to manage our
growth."

Patriot repeated to investors on February 12, 1998, May 4, 1998,
July 9, 1998, July 22, 1998 and July 29, 1998, that it was
successfully integrating the $4.5 billion worth of companies
that it acquired during the class period, that it had the
ability to pay its short-term debt, and that Patriot was poised
for growth.

However, by March of 1998, only three months into the class
period, defendants were aware that Patriot had lost Chief
Financial Officer Rex Stewart due to conflicts with Mr. Nussbaum
and Mr. Evans related to their failure to include him in
important financial decisions related to financing and
acquisitions.  Additionally, by this time, defendants were aware
of similar conflicts between Mr. Evans and Anne Raymond, the
acting CFO of Wyndham, which caused Ms. Raymond to take a
sabbatical in early 1998, immediately following the merger; that
sabbatical turned into a retirement around mid-year 1998.

In addition to losing its CFOs, a management study was conducted
that identified the integration and capital problems that
ultimately doomed Patriot's acquisition program and business.
Defendants received this document at a management retreat held
at the home of Harlan Crow, a shareholder, prior to the
completion of the merger with Wyndham and prior to the beginning
of the class period.  The problems outlined in this study were
discussed at weekly Monday executive lunch meetings at Patriot's
Dallas headquarters.  

Moreover, at no point in the class period did Patriot ever have
an integrated computer system that would allow for the
integration of sales and accounting information to be received
directly from the Company's separate properties.

While defendants were busy acquiring more and more companies,
Patriot was fighting a cash crisis so dire that by July 1998
defendants unilaterally put vendors on a 60-day payment
schedule, eliminated advertising, and cut travel incentive
programs designed to attract guests in an effort to raise much
needed cash.  Finally, by September 1998, Patriot's cash crisis
became so bad that defendants ordered the cancellation of hotel
improvements and renovations which had been previously budgeted
and approved.  Thereafter, beginning in November 1998,
defendants were forced to begin selling off assets and announced
the "divestiture" of $365 million worth of their properties.

Even knowing that Patriot was suffering from a severe shortage
of cash, that the integration of Wyndham was not complete or
going well and that there was a great disparity between
forecasted and actual revenues, on November 8, 1998, defendants
misrepresented the Company's performance in 3Q98, claiming that
the increases in revenues were the result of the "strength of
our dramatically growing brand."  Ultimately, defendants' cash
crisis could no longer be fixed by cuts in programs and
improvements.

On December 16, 1998, defendants were forced to enter into a
highly unfavorable contract for an "equity infusion" of $1
billion with Apollo Real Estate Advisors of New York, Apollo
Management, L.P., Thomas H. Lee Company, Beacon Capital Partners
Inc. and Rosen Consulting Group (Apollo Group).  In exchange,
the Apollo Group received, for its $1 billion, 47% of the
Company and half of its board seats.  As investors digested the
implications of the Apollo Group equity infusion, the price of
Patriot stock collapsed to as low as $6.75 per share, 78% off
its class period high of $29.50 per share.

For more details, contact William Lerach by Phone: 800/449-4900
by E-mail: wsl@milberg.com or visit the firm's Website:
http://www.milberg.com


RECOTON CORPORATION: Schiffrin & Barroway Files Stock Suit in FL
----------------------------------------------------------------
Schiffrin & Barroway, LLP initiated a securities class action in
the United States District Court for the Middle District of
Florida, Orlando Division on behalf of all purchasers of the
common stock of Recoton Corporation (NasdaqNM:RCOTQ) from
November 15, 1999 through August 19, 2002, inclusive.

The complaint 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 between November 15, 1999 and
August 19, 2002, thereby artificially inflating the price of
Recoton securities.

During the class period, the Company issued statements that
failed to disclose and/or misrepresented the following adverse
facts, among others:

     (1) that a ``strategic plan,'' which was required by its
         creditors, was not implemented to improve efficiencies,
         increase future profitability, improve cash flow, and
         increase return on assets;

     (2) that there was never a plan to develop a more
         incentive-based method of compensation;

     (3) that the Company's reported financial results were in
         violation of generally accepted accounting principles
         (GAAP) because, inter alia, the company improperly
         recognized and overstated revenue; and the Company
         failed to properly reflect inventory on its balance
         sheets at the lower of cost or market value;

     (4) that the Company lacked adequate internal controls and
         was therefore unable to ascertain the true financial
         condition of the Company; and

     (5) that as a result, the value of the Company's net income
         and financial results were materially overstated at all
         relevant times.

On May 8, 2002, the investing public learned via a Company press
release that no strategic plan had been implemented to improve
operating efficiencies, increase future profitability, improve
cash flow and increase return on assets.  Additionally, on
August 19, 2002, the Company revealed information showing that,
contrary to its earlier statements on awarding only incentive-
based compensation to management, bonuses had been paid to
executives in advance of the Company's achievement of certain
goals.  The Company also revealed that it had granted additional
price concessions to customers "on products previously
purchased."

On news of the this, shares of Recoton stock fell 15% to close
at $1.76 per share, down more than 91% from its previous class
period high of $20.50.

For more details, contact Marc A. Topaz or Stuart L. Berman by
Mail: Three Bala Plaza East, Suite 400, Bala Cynwyd, PA 19004 by
Phone: 1-888-299-7706 (toll free) or 1-610-667-7706 or by E-
mail: info@sbclasslaw.com


REGENERON PHARMACEUTICALS: Kirby McInerney Files Securities Suit
----------------------------------------------------------------
Kirby McInerney & Squire, LLP initiated a securities class
action in the United States District Court for the Southern
District of New York on behalf of all purchasers of Regeneron
Pharmaceuticals, Inc. (NasdaqNM:REGN) common stock during the
period from March 28, 2000 to March 30, 2003, inclusive.

The action charges Regeneron and certain of its senior officers
with violations of Sections 10(b) and Rule 10b-5 of the
Securities Exchange Act of 1934.  The alleged violations stem
from the dissemination of false and misleading statements, which
had the effect -- during the class period -- of artificially
inflating the price of Regeneron's shares.

Regeneron issued a series of material misrepresentations to the
market concerning the Company's financial condition during the
class period.  Specifically, Regeneron failed to disclose:

     (1) that the Company knew that AXOKINE had immunogenicty
         problems such that patients developed antibodies to
         AXOKINE after continued use;

     (2) that the Company knew of this fact and manipulated its
         clinical results to portray that AXOKINE did not cause
         significant amounts of clinical patients rejecting the
         drug;

     (3) that the Company's account of AXOKINE published in PNAS
         failed to provide an accurate portrayal of the effects
         of the drug;

     (4) that the Company sought to suppress the immunogenicty
         problems that were associated with it by developing a
         pegylated version of AXOKINE;

     (5) that the Company knew that AXOKINE's effect on clinical
         patients were similar to the effects of prescription
         obesity drugs that were already on the market; and

     (6) that the overall magnitude of the weight loss from
         AXOKINE was small; a fact that was manipulated by
         defendants in its published clinical results.

When this news hit the market on March 31, 2003, Regeneron share
price fell from $17.31 to $7.52.

For more details, contact Ira M. Press or Elaine Mui by Mail:
830 Third Avenue, 10th Floor, New York, New York 10022 by Phone:
(212) 317-2300 or (888) 529-4787 or by E-Mail: emui@kmslaw.com


TYCO INTERNATIONAL: Bernard Gross Lodges Securities Suit in NY
--------------------------------------------------------------
The Law Offices Bernard M. Gross, PC initiated a securities
class action in the United States District Court for the
Southern District of New York on behalf of purchasers of the
securities of TYCO International Ltd (NYSE:TYC) during the
period between September 9, 1999 through and including May 28,
2003.  The action is pending in the United States District
Court, Southern District of New York, against Merrill Lynch
Pierce Fenner & Smith, Incorporated and Phua Young.  The case
has been assigned to the Honorable Robert W. Sweet.

The complaint alleges that defendants engaged in a scheme to
defraud Tyco investors in violation of SEC Rule 10b-5.  Mr.
Young issued numerous misleading research reports on Tyco while
supposedly working as an `independent' director.  Mr. Young
voiced opinions in his research reports on Tyco that were flatly
contradicted in his own private emails, where he expressed his
true outlook on Tyco.

Emails from Mr. Young show that he didn't believe his own
publicly-issued research reports concluding that Tyco's
subsidiary, CIT Group, could be sold for as high as $7-8
billion.  Mr. Young privately expressed his true view that CIT
would fetch much less, if a buyer could be found at all.  In
other emails, Mr. Young made it plain that Tyco ``effectively
bought and paid for'' him when he candidly described himself in
a private email as ``LOYAL TYCO EMPLOYEE.''  Mr. Young routinely
sent his draft Tyco research reports to Tyco's Investor
Relations Department for review, comment and editing.  With
respect to one of his reports, Mr. Young asked Tyco: ``Did I not
sound pumped up enough?''  Mr. Young is also accused of passing
insider tips to his institutional clients in advance of at least
one Tyco deal involving Siemens and accepting unlawful gifts
from Tyco.

For more details, contact Susan Gross or Deborah R. Gross by
Mail: 1515 Locust Street, 2nd Floor Philadelphia, PA 19102 by
Phone: 866-561-3600(toll-free) or 215-561-3600 by E-mail:
susang@bernardmgross.com or debbie@bernardmgross.com or visit
the firm's Website: http://www.bernardmgross.com


                              *********

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the Class Action Reporter. Submissions
via e-mail to carconf@beard.com are encouraged.

Each Friday's edition of the CAR includes a section featuring
news on asbestos-related litigation and profiles of target
asbestos defendants that, according to independent researches,
collectively face billions of dollars in asbestos-related
liabilities.  The Asbestos Defendant Profiles is backed by an
online database created to respond to custom searches. Go to
http://litigationdatasource.com/asbestos_defendant_profiles.html

                        *********


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
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Beard Group, Inc., Washington, D.C.  Enid Sterling, Aurora
Fatima Antonio and Lyndsey Resnick, Editors.

Copyright 2003.  All rights reserved.  ISSN 1525-2272.

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