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            C L A S S   A C T I O N   R E P O R T E R

            Thursday, March 11, 2004, Vol. 6, No. 50

                         Headlines

ABORTION LEGISLATION: South Dakota Governor Vetoes Abortion Ban
AETNA LIFE: MA Court Grants Summary Judgment In Policy Lawsuit
ALCOHOL ADVERTISING: Study Says Web Sites Still Attracting Kids
AMERICAN EXPRESS: Shareholder Suit Alleges Underperforming Funds
AMITYVILLE UNION: Court Grants Dismissal Of Election Fraud Suit

BANK OF AMERICA: AC Remands Certification, Pact In Stock Suit
BAYER AG: Announces 2,200 Settlements Reached In Lipobay Suits
BEARCAT INC: SEC Sustains PHLX Disciplinary Action V. President
BRIDGESTONE/FIRESTONE: State of Litigation Conference, March 12
CALIFORNIA: SF Court Holds In Contempt Man In SEC Fraud Probe

CATHOLIC CHURCH: Judge Dismisses Abuse Lawsuit V. KY Archdiocese
COUNTRYWIDE CREDIT: AC Affirms Arbitration In Overtime Pay Suit
CRITICAL PATH: SEC Reaches Settlement With Ex-VP In Fraud Suit
EASTMAN KODAC COMPANY: AC Affirms Dismissal Of Work-Bias Suit
FLORIDA: Eleven Colleges Face Lawsuit For Deceptive Activities

MARTHA STEWART: Experts Predict Tough Appeals Process In Case
MARTHA STEWART: Shares Continue Slide in Wake Of Guilty Verdict
MARYLAND: Water Taxi Mishap Claims Second Life; 3 Still Missing
NEW YORK: Man Shot In Head During Masonic Initiation Ceremony
OREGON: Court Approves Settlement In Disabled Patients' Lawsuit

PRESTO TELCOMMUNICATIONS: SEC Obtains Suit Injunction
PSS WORLD MEDICAL INC: Court Announces $6.75M Pact in Stock Suit
RELIANT: Faces Federal Charges Related To CA Energy Crisis
ROYAL CARIBBEAN CRUISES: Court Denies Late-Filed Claims in Suit
SAME-SEX MARRIAGES: NJ Couples Seek Wedding Licenses Amid Debate

SAME-SEX MARRIAGES: Seattle Couples File Suit Over Right To Wed
SINA CORPORATION: COMMISSION SANCTIONS NIKOLAI SAFAVI
SPRINT: Tracking Stock 'Recombination' Draws Investor Lawsuits
SUN HEALTHCARE: New Mexico Plaintiffs Appeal to CA 10th Circuit
TEXAS: Fire Engulfs Chemical Warehouse Near Houston Suburb

TOYOTA MOTOR CORP: U.S. Launches Probe Over Acceleration Defect
TYCO INTERNATIONAL: Defense Lawyer's Illness Delays Fraud Trial
UCLA: Newspaper Article Says Invoice Details Theft of Body Parts
U.S. AIR FORCE: Launches Sexual Assault Charge Probe
VISTA 2000: SEC Obtains Final Judgment V. Ex-VP In Stock Suit

WASHINGTON GROUP: Approval of ERISA Suit Settlement Pending
WASHINGTON MUTUAL: WI Court Denies Dismissal Of Mortgage Lawsuit
WEYERHAEUSER CO: Reaches $34.5 Million Pact In Antitrust Lawsuit
WEYERHAEUSER CO.: Sets Aside $173M for 'Hardboard' Settlement
W.R. GRACE: Bankruptcy Court to Take Up New Asbestos Suits May

YUM! BRANDS: Settlement of Wage-Hour Suit vs. Taco Bell Okayed

                  New Securities Fraud Cases

99 CENTS ONLY: Brian Felgoise Files Securities Suit in C.D. CA
AaiPHARMA: Wolf Haldenstein Launches Securities Suit in E.D. NC
ACTIVISION INC: Brian Felgoise Files Securities Suit in C.D. CA
AGCO CORPORATION: Schoengold & Sporn Files Securities Suit in GA
AMERICAN EXPRESS: Cauley Geller Launches Securities Suit in NY

AMERICAN EXPRESS: Milberg Weiss Commences Securities Suit in NY
AMERICAN EXPRESS: Schiffrin & Barroway Launches Stock Suit in NY
COLUMBIA FUNDS: Stull Stull Lodges Securities Suit in S.D. NY
EDWARD D. JONES: Chitwood & Harley Files Securities Suit in MO
ITT EDUCATIONAL SERVICES: Chitwood & Harley Files IN Stock Suit

ITT EDUCATIONAL SERVICES: Cohen Milstein Files Stock Suit in DC
SPX CORPORATION: Brodsky & Smith Launches Securities Suit in NC
SPX CORPORATION: Brian Felgoise Files Securities Suit in W.D. NC


                            *********


ABORTION LEGISLATION: South Dakota Governor Vetoes Abortion Ban
---------------------------------------------------------------
South Dakota Gov. Michael Rounds vetoed legislation on Tuesday
that would have all but banned abortion in the state and
challenged the 1973 U.S. Supreme Court ruling that legalized the
procedure, Reuters News reports.

The two houses of South Dakota's state legislature voted
overwhelmingly for the bill, which called for abortions to be
banned in all cases except when a women's life was in danger.
Rounds, a Republican who has been an abortion opponent, told
legislators in a letter that he was vetoing the bill because it
could be declared unconstitutional and undermine other state
laws governing abortion.

Supporters said it was aimed at challenging the 1973 Roe vs.
Wade Supreme Court ruling. Opponents have said the bill is a
foolhardy attempt to ban abortion that will rack up expensive
legal bills for the state.


AETNA LIFE: MA Court Grants Summary Judgment In Policy Lawsuit
---------------------------------------------------------------
The United States District Court for the District of
Massachusetts granted Defendant's Motion for Summary Judgment of
a lawsuit brought against Aetna Life Insurance and Annuity Co.,
and Gary Pflugfelder, on behalf of William Fay, Sr., et al. in
his capacity as Trustee of the Fay Insurance Trust, alleging
breach of contract, breach of the implied covenant of good
faith and fair dealing, fraud and deceit, negligence, estoppel,
and violation of G.L. c. 93A and c. 176D.

Plaintiffs maintain that Pflugfelder misrepresented the terms of
a $6 million Aetna life insurance policy  that the Fays
purchased for estate planning purposes in 1990 and in 1991.
According to the Complaint, Pflugfelder assured the Fays that
the policy required only ten, or at the most, eleven annual
premium payments and would be paid in full upon their deaths. In
fact, the policy sold by Pflugfelder to the Fays required that
premiums be paid for twenty-eight years. Moreover, the policy
provided that if either of the Fays reached the age of ninety-
five, the $6 million death benefit would automatically lapse.
According to the Fays, they did not discover the discrepancies
between the policy they had purchased and the policy that
Pflugfelder had described until December of 2000 when Aetna
billed them for an eleventh annual premium.

On April 17, 2003, Aetna and Pflugfelder filed motions for
summary judgment arguing that the Fays' Complaint is barred in
its entirety by the statute of limitations. On May 19, 2003,
plaintiffs opposed the defendants' motions while simultaneously
filing a cross-motion for partial summary judgment on the breach
of contract claim. On February 12, 2004, the court heard oral
argument.


ALCOHOL ADVERTISING: Study Says Web Sites Still Attracting Kids
----------------------------------------------------------------
According to a study released Tuesday by the Center on Alcohol
Marketing and Youth at Georgetown University, alcohol company
Web sites are offering a "cyber playground" for underage youths
despite promises from the companies to limit their access, the
Associated Press reports.

The study estimated that nearly 700,000 underage people visited
alcohol company Web sites from July through December. Many
played video games and downloaded music, e-mail gadgets and
icons - all the while immersed in the marketing of beer and
alcohol, center director Jim O'Hara told the AP. "These alcohol
Web sites are a virtual cyber playground with no adult
supervision," O'Hara said. For the study, the Internet audience-
measuring service comScore Media Metrix used its panel of U.S.
residents as a statistical sampling of Internet users. The study
was not a survey but instead monitored actual Internet usage,
O'Hara said.

The study showed that about 13 percent of all visitors to 55
alcohol company Web sites were under the legal drinking age of
21. The most popular sites among young people involving
distilled spirits, beer and so-called "malternatives," generally
sweet-tasting alcohol products.

Bacardi's site - http://www.bacardi.com- received about 59
percent of its visits from underage persons, according to the
study. The two sites receiving the most total hits from underage
users were both affiliated with St. Louis-based beer giant
Anheuser-Busch Cos. Inc. - http://www.budlight.comand
http://www.budweiser.com.Both received more than 90,000
estimated visits during the six-month study period.

Parental controls on computers block some, but not all sites,
O'Hara said. The study found that while six of eight parental-
control programs studied blocked access to the Bud Light site,
only one kept underage users away from Bacardi's. The sites
themselves generally require age verification, though there is
no way to verify the truthfulness of the user. The study found
that games were featured on 10 of 15 beer Web sites, seven of 19
sites for distilled spirits and four of 12 for alternatives.

Anheuser-Busch did not return telephone calls Monday seeking
comment. Bacardi USA spokeswoman Pat Neal had not seen the
report but said the company was "highly suspect of the science
behind it." "We are responsible marketers and we do not target
underage consumers," Neal said.


AMERICAN EXPRESS: Shareholder Suit Alleges Underperforming Funds
----------------------------------------------------------------
American Express Co.'s American Express Financial Advisors unit
was named in a class action shareholder suit accusing the
brokerage of "pushing" American Express funds and others when
they were "among the poorest performing mutual funds on the
market", Dow Jones Business News reports.

In a press release Tuesday, the law firm of Milberg Weiss
Bershad Hynes & Lerach LLP said American Express Financial
Advisors customers weren't receiving the objective financial
guidance they were promised, and their portfolios suffered as a
result. An American Express Financial Advisors spokesman wasn't
immediately available for comment.


AMITYVILLE UNION: Court Grants Dismissal Of Election Fraud Suit
---------------------------------------------------------------
The United States For the Eastern District of New York granted
defendant's Motion to Dismiss a complaint brought against the
Amityville Union Free School District, et al., on behalf of
Plaintiff voters Alexandra Gilmore and Juliet Jordan-Thompson,
et al., alleging that votes in school board election were
wrongfully tampered with and counted for wrong candidates after
votes were tallied.

Defendants Amityville Union Free School District, Stephanie
Andrews and Bruce MacGill bring this motion to dismiss the
amended complaint of plaintiffs for failure to state a claim
upon which relief can be granted pursuant to Fed.R.Civ.P.
12(b)(6). The defendants also move to dismiss the amended
complaint against the individual defendants, Andrews and
MacGill, pursuant to Fed.R.Civ.P. 12(b)(2) for lack of personal
jurisdiction based on a failure to timely serve in accordance
with Rule 4(m) of the Federal Rules of Civil Procedure.

Alternatively, the defendants move to stay the proceedings based
on abstention principles due to the related administrative
proceeding before the New York State Commissioner of Education.
This is the defendants' second motion to dismiss pursuant to
Fed.R.Civ.P. 12(b)(6). Oral argument on the defendants' first
motion to dismiss the plaintiffs' original complaint was heard
on January 31, 2003. In an Order dated February 9, 2003, the
Court dismissed the plaintiffs' 1983 claims with leave to amend,
advising the plaintiffs to "adequately allege municipal
liability and to clarify the basis for a finding of intentional
or purposeful discrimination."


BANK OF AMERICA: AC Remands Certification, Pact In Stock Suit
-------------------------------------------------------------
The United States Court of Appeals, Eleventh Circuit dismissed
in part, vacated in part, and remanded a ruling by the U.S.
District Court for the Northern District of Alabama, certifying
and approving the settlement of a securities lawsuit brought
against Bank of America, et al., on behalf of buyers of
corporate notes.

The suit stems from the sale of $200M in corporate notes by Just
for Feet, a shoe retailer, on April 12, 1999. JFF had recently
borrowed $280 million, and the offering was intended to reduce
that debt. Soon, however, JFF began reporting very poor
financial news. On November 4, 1999, it filed for bankruptcy
protection. Two purchasers of the Notes, AAL High Yield Bond
Fund and Delaware Delchester filed a class action suit against
Haines and Ruttenberg, officers of JFF; Bank of America
Securities, the  underwriter of the Note offering; and Deloitte
& Touche, JFF's independent outside auditor, alleging four
violations of federal securities law and one violation of
Alabama law.

Plaintiffs and the Officers agreed to settle on May 10, 2002.
The district court preliminarily approved the settlement, and
after hearing and overruling the objections to the settlement,
entered an order certifying the class and approving the
settlement.

Blue Ridge Investments, Atlantic Equity Corp., and defendant BAS
objected to the proposed settlement, arguing they should have
been included in the plaintiff class. Each had purchased Notes,
albeit not in the initial Note offering, and collectively
possesses 64% of the total Notes. Plaintiffs allege that BAS and
the Objectors only purchased Notes as part of a mitigation
effort when JFF began to falter. BAS and the Objectors have the
same corporate parent, Bank of America Corporation and, again,
BAS underwrote the Note offering.

The lawsuit names the following defendants: Bank of America
Securities LLC, Deloitte & Touche LLP, f.k.a. Nationsbanc
Montgomery Securities LLC, Atlantic Equity Corporation, and Blue
Ridge Investments LLC.


BAYER AG: Announces 2,200 Settlements Reached In Lipobay Suits
--------------------------------------------------------------
German drug maker Bayer AG said Tuesday it has now reached more
than 2,200 settlements related to the 2001 withdrawal of a
cholesterol-lowering drug, paying out $842 million without
admitting liability, the Associated Press reports.

The Leverkusen-based company said in a regular update that it
settled 2,224 cases as of March 5 - up from 2,059 in January -
with 9,948 more pending. Bayer pulled Lipobay, marketed as
Baycol in the United States, in August 2001 after it was linked
to a rare muscle-wasting syndrome and about 100 patient deaths.

In a press release, the company said "where facts have been
developed in the course of the litigation, it so far appears
that the vast majority of plaintiffs did not suffer serious
side-effects." The $842 million Bayer has now paid out is up
from $782 million in January. In trading on the New York Stock
Exchange, shares of Bayer were up 6 cents at $29.11.


BEARCAT INC: SEC Sustains PHLX Disciplinary Action V. President
---------------------------------------------------------------
The Securities and Exchange Commission (SEC) sustained
disciplinary action by the Philadelphia Stock Exchange against
Bearcat, Inc., a member of the Philadelphia Stock Exchange, Seth
Diamond, Bearcat's president, and Peter Fineberg, Bearcat's
secretary.

The PHLX had found that Applicants participated in a scheme
effected  by Salvatore DiAmbrosio, a stock execution clerk whom
Diamond and  Fineberg hired to trade stocks for Bearcats. The
PHLX found that  Applicants' conduct violated Exchange Act
Section  10(b)  and  Rule  10b-5,  was inconsistent  with  just
and equitable principles  of  trade,  and  was detrimental  to
the Exchange's interest.  The PHLX further found that Applicants
improperly permitted DiAmbrosio to have  an  interest in a
Bearcat trading account; failed to supervise DiAmbrosio;  and
violated reporting  and  registration requirements.   PHLX
censured  Applicants, imposed  a  $500,000  joint  and several
fine,  suspended  Bearcat  from membership for six months, and
suspended both Fineberg and Diamond  from association for six
months.

When Applicants retained DiAmbrosio as a trader, DiAmbrosio was
employed by another firm as a stock execution clerk.
DiAmbrosio's  biggest customer  was  Binary  Traders, Inc.  As a
stock  execution  clerk  for Binary,  DiAmbrosio had access to
Binary's proposed trades.   DiAmbrosio engaged in a fraudulent
trading scheme in which he used computer journal entries  that
reflected offsetting purchases and sales  of  securities. The
journal entries resulted in the customer (usually Binary) buying
or selling  the stock at an inferior price to Bearcat.  The
journal entries transferred money from DiAmbrosio's customers to
Bearcat and as a result to DiAmbrosio.

The Commission concluded that Applicants participated in
DiAmbrosio's scheme. When Bearcat hired him, DiAmbrosio had no
prior experience as  a trader.  Nonetheless, Diamond and
Fineberg gave DiAmbrosio discretion to trade  through  a joint
Bearcat trading account and to risk  substantial amounts  of
Bearcat's capital.  The Applicants split the net profits  of
DiAmbrosio's  trades 50/50 with DiAmbrosio.  Applicants did  not
inform DiAmbrosio's  other  employer  or the PHLX  of  their
arrangement  with DiAmbrosio  and  made  substantial efforts to
keep their  employment  of DiAmbrosio a secret.


BRIDGESTONE/FIRESTONE: State of Litigation Conference, March 12
---------------------------------------------------------------
As the 20-month-old national class action lawsuit against
Bridgestone/Firestone, Inc. for alleged defects in its Firestone
Steeltex tire series reaches its most critical stage to date,
the Plaintiff's law firm, Lisoni & Lisoni, will hold a News
Conference on March 12 at its Pasadena offices to analyze and
comment on recent major new developments in the lawsuit and
announce new actions to be taken as the "home stretch"
approaches in the litigation process, Business Wire reports.

Terming the last three months as a highly significant and
turbulent period in the litigation, lead Attorney Joseph L.
Lisoni at the News Conference will analyze, comment on, and
offer printed and visual documentation on a wide range of
subjects, to include:

     -Bridgestone/Firestone's announcement this past week that
      it is recalling nearly 300,000 of its Steeltex tires which
      were produced at a Canada plant and have been linked to
      six accidents which resulted in five deaths and 20
      injuries. Another 20,000 tires were exported outside U.S.

     -Bridgestone Corporation, Inc. of Japan's request to Lisoni
      to be temporarily exempted from the lawsuit (granted)
      until determination was made of the culpability of
      Bridgestone/Firestone.

     -The ruling made by the California Superior Court on
      February 25 on a motion to have the lawsuit certified as a
      national class action and what it means for the
      litigation's final outcome.

     -The refiling of a petition seeking sanctions for
      Bridgestone/Firestone's alleged destruction of evidence
      (damaged tires) which violated a court order.

     -Reversal of denials by Bridgestone/Firestone that it has
      been storing allegedly defective tires.

     -The petition by lawyers representing Bridgestone/Firestone
      to The State Bar of California seeking to have the senior
      partners of Lisoni & Lisoni disbarred. (Bar denied
      petition.)

Also at the News Conference, Lisoni will announce the filing of
a petition with the National Highway Traffic Safety
Administration (NHTSA) requesting that it reopen its
investigation of Firestone Steeltex tires limited to tires on
ambulances. Through its own investigation, the law firm has
obtained reports of alleged defects on Steeltex tires from
ambulance companies in 33 states.

Following are pertinent details on the News Conference:

     WHEN:        Friday, March 12, 10:30a.m.

     WHERE:       Lisoni & Lisoni
                  225 South Lake Avenue (9th Floor Conference
                  Room), Pasadena

     WHO:         JOSEPH L.& GAIL N. LISONI - Lisoni & Lisoni

     VISUALS:     Among the items to be on display at the News
                  Conference will be maps, charts, photographs
                  and written materials, documenting Steeltex
                  tire failures, resulting damages and
                  ambulance problems as well as video clips of
                  alleged destruction of evidence by
                  Bridgestone/Firestone and video images of
                  problems ambulances are having with
                  Steeltex tires.

    INFORMATION
    CONTACT:      For additional information or advance
                  arrangements prior to March 12, contact Bob
                  Fisher or Chris Foster of Fisher & Associates
                  at 818-346-1750 or e-mail pr4biz@FisherPR.com.


CALIFORNIA: SF Court Holds In Contempt Man In SEC Fraud Probe
-------------------------------------------------------------
On March 5, U.S. District Judge William H. Alsup in San
Francisco held defendant Michael Alexander of Solana Beach,
California in contempt of an order freezing his assets.  The
court found that Alexander had diverted and used funds for
gambling in violation of two orders prohibiting such acts.  The
court ordered Alexander to deposit  $33,183 with the clerk of
the court by March 12, 2004, or failing that, report to the
United States Marshal for incarceration until further order of
the court.

The Securities and Exchange Commission (SEC) filed an action
against Alexander and others on Oct. 12, 2003, alleging that the
defendants were conducting a fraudulent scheme to raise funds
for a purported mortgage lending business that guaranteed
a 12% annual rate of return to investors.


CATHOLIC CHURCH: Judge Dismisses Abuse Lawsuit V. KY Archdiocese
----------------------------------------------------------------
Jefferson County Circuit Judge Lisabeth Hughes Abramson has
dismissed one of the remaining lawsuits against the Archdiocese
of Louisville over alleged sexual abuse, and dismissal of
another has been upheld, the Associated Press reports.

Judge Abramson said Andre Azerot, who said he was molested by
the Rev. Joseph Herb in the 1980s, filed the lawsuit too late
under Kentucky's statute of limitations. Abramson said Azerot
did not make his claims within a year of becoming an adult, and
she rejected his contention that the archdiocese had covered up
abuse by Herp and that the time limit therefore should be
waived. The judge said in her ruling Thursday that Azerot had
enough evidence to pursue the claim years ago even if the
archdiocese did conceal information. And even if the time limit
began with the first news report about sexual abuse in the
archdiocese in April 2002, the lawsuit was filed in May 2003,
more than a year after that, Abramson said.

In a second case, Judge Stephen P. Ryan denied a motion on March
1 by Linda Epperson to reconsider his dismissal of her lawsuit
in December on similar grounds. Epperson said she was abused in
1962 by the Rev. Joseph Rives.

The two plaintiffs were among a handful who filed lawsuits after
April 23, 2003. A total of 243 plaintiffs who filed sexual-abuse
lawsuits against the archdiocese by that date entered class
action negotiations with church officials. They reached a $25.7
million settlement with the archdiocese in June. The archdiocese
permanently removed Herp from ministry in 2002 after it said it
confirmed abuse allegations against him. Rives died in 1971.


COUNTRYWIDE CREDIT: AC Affirms Arbitration In Overtime Pay Suit
---------------------------------------------------------------
The United States Court of Appeals, Fifth Circuit affirmed a
ruling by the U.S. District Court for the Northern District of
Texas, granting Defendant's Motion to Compel Arbitration in
lawsuit brought against Countrywide Credit Industries,
Countrywide Home Loans, Inc., and Full Spectrum Lending, Inc.,
on behalf of Plaintiff Loy Carter, et al., seeking to recover
overtime pay allegedly due them under the Fair Labor Standards
Act (FLSA).

Plaintiffs Loy Carter, Geoff Burkhart, Heather Young, and
Deborah Robinson are current and former employees of
Countrywide who brought suit against Countrywide on behalf of
themselves and others similarly situated in an attempt to
recover overtime compensation allegedly due under the
provisions of the Fair Labor Standards Act, 29 U.S.C. 201.
Following the filing of this suit, Countrywide moved to compel
the plaintiffs to submit their claims to arbitration under
arbitration agreements, which all Countrywide employees sign as
a condition of their employment with the company. In response,
Plaintiffs admitted that they signed the Arbitration Agreements.
However, they asserted that the Agreements were invalid and thus
unenforceable for four primary reasons:

     (1) FLSA claims are not subject to arbitration;

     (2) the Agreements are unconscionable;

     (3) the Agreements infringe on substantive rights
         otherwise granted by the FLSA; and

     (4) the fee splitting arrangement contained in the
         Agreements imposes impermissibly prohibitive
         arbitration costs on them.

The district court rejected the first three arguments entirely,
holding that the Agreements were not unconscionable nor would
their enforcement clash with any substantive provisions of the
FLSA. The district court did hold, however, that the Agreements'
fee-splitting provision imposed prohibitive costs on the Carter
Appellants;  in this respect, the district court simply severed
this provision from the Agreements under the severability
clause, and ordered Countrywide to pay all costs associated with
arbitration. The district court then granted Countrywide's
motion to compel arbitration. Plaintiffs appealed.


CRITICAL PATH: SEC Reaches Settlement With Ex-VP In Fraud Suit
--------------------------------------------------------------
The Securities and Exchange Commission (SEC) announced a
settlement with Jonathan A. Beck, a former sales vice president
at Critical Path, Inc., a California company that provides e-
mail services.

The Commission's complaint-filed in August 2002-alleged that
Beck fraudulently participated in a scheme to inflate Critical
Path's revenue and earnings for fiscal 2000, and then illegally
sold 27,348 shares of the company's stock based on non-public
information about the fraud and the company's true financial
condition. Without admitting or denying the Commission's
allegations, Beck consented to the entry of a Final Judgment-
entered by the U.S.  District Court for the Northern District of
California on March 1-that:

     (1) permanently enjoined Beck from violating Sections 10(b)
         and 13(b)(5)  of the Securities Exchange Act of 1934
         (Exchange Act) and Exchange Act Rule 10b-5 and 13b2-
         1, and from aiding and abetting violations of Exchange
         Act Sections 13(b)(2)(A) and 13(b)(2)(B); and

     (2) ordered  Beck  to disgorge  $586,368  in  losses  he
         avoided  from  transactions  in  the securities of
         Critical Path, Inc., together with pre-judgment
         interest.

Based on Beck's sworn representations in his Statement of
Financial Condition, and other documents submitted to the
Commission, the Court waived payment of all but $26,500 of the
disgorgement, waived pre-judgment interest, and did not impose a
civil penalty.

In a related criminal case-prosecuted by the U.S. Attorney for
the Northern District of California-Beck pleaded guilty to
insider trading in Critical Path stock.  On Jan. 14, 2004, U.S.
District Judge Alsup sentenced Beck to three months in prison,
and to two years of supervised release.

Beck is the fifth former Critical Path executive to have settled
fraud charges brought by the Commission. In February 2002 the
Commission filed a settled civil injunctive action against
Critical Path's former president David A. Thatcher and a former
sales vice president, Timothy J. Ganley. The Commission also
suspended Thatcher from practicing before the Commission as an
accountant. In August 2002 the Commission filed a civil
injunctive action against William Rinehart (the former head of
Critical Path's North and Latin American sales forces), Kevin P.
Clark Public Utilities (a former regional vice president of
sales at the company), and Beck.  Rinehart and Clark settled
with the Commission simultaneously with the filing of the
complaint. In February 2002 the Commission instituted and
settled cease-and-desist proceedings against Critical Path.


EASTMAN KODAC COMPANY: AC Affirms Dismissal Of Work-Bias Suit
-------------------------------------------------------------
The United States Court of Appeals, Second Circuit affirmed e
ruling by the U.S. District Court for the Western District of
New York dismissing a class action complaint brought against
Eastman Kodak, on behalf of Plaintiff Larry Rodriguez, over
allegations of work-related discrimination.

In the complaint, Rodriguez seeks "equitable relief classwide
for Kodak employees, past and present, whom have been harmed by
[Kodak's] discriminatory employment practices." Rodriguez also
asserts that his case should have been decided by the district
court judge originally assigned to his case.

In its decision, the Court notes that 28 U.S.C. 137 grants
district courts wide discretion to set rules for the division of
cases and the management of court business. Rodriguez has not
established that there has been any  violation of the local
rules for case assignment, nor has he demonstrated that the case
assignment was motivated by improper bias.


FLORIDA: Eleven Colleges Face Lawsuit For Deceptive Activities
--------------------------------------------------------------
Eleven Florida colleges, with ties to over 55 colleges
nationwide, are the subject of a class action suit filed in the
Circuit Court of Broward County for failure to disclose their
lack of proper accreditation, PRNewswire reports.

The Law Firm of Peter N Price, PA, Hollywood, FL, charged
Florida Metropolitan University, Inc., Rhodes Colleges, Inc.,
and Corinthian Colleges, Inc., all headquartered at Plantation,
FL, with damaging plaintiff Michael Satz, by their unlawful and
deceptive activities. According to Satz, "I was deliberately
misled by many FMU staff members as they stated the school was
specifically accredited and that my credits would be
transferable to other institutions of higher learning." Satz was
charged approximately $11,000.00 for his past year's courses.

Attorney Peter N. Price observed that his firm's class action
has the potential to affect thousands of Florida citizens who
are enrolled at FMU, Rhodes and Corinthian Colleges. He noted
further that FMU operates numerous college campuses throughout
Florida including those located in Ft. Lauderdale/Plantation,
Brandon, Melbourne, Tampa, North and South Orlando,
Jacksonville, Pinellas County, Lakeland, South Pompano, and
Orange Park. Price pointed out that the misrepresentation of
accreditation may affect 11,000 students currently enrolled in
Florida and he estimated over a hundred thousand national
students are potentially involved. "When you translate this into
the four years of damages requested for our suit, the number of
people affected, is staggering," he said.

The suit is based upon Florida's Deceptive and Unfair Practices
Act (DUPA). It alleges the colleges conspired in a common scheme
"to conceal their unlawful, tortious and illegal acts from the
public, including Satz, in order to increase profits." Satz, who
was assured and shown documentary evidence that FMU was fully
accredited as a proper college to attend, enrolled and completed
approximately 80 credit hours to pursue a degree in paralegal
studies. However, Nova Southeastern University advised that FMU
credits would not be transferable as the Commission on Colleges
of the Southern Association of Colleges and Schools (SACS) had
not issued accreditation to FMU.


MARTHA STEWART: Experts Predict Tough Appeals Process In Case
-------------------------------------------------------------
Legal experts on Tuesday, according to Reuters News, said that
Martha Stewart will have a tough time convincing an appeals
court to throw out her convictions, raising the question: how
much time might the woman who made millions giving advice on
gracious living have to serve behind bars?

Experts said the best-case scenario -- the dismissal of the
guilty verdicts handed down on Friday -- will be extremely
difficult for defense lawyers to win and that Stewart's trial
poses a particularly high hurdle because of the accuracy of the
judge's rulings. Ivan Fisher, a prominent Manhattan defense
attorney, said that appeals court reversals are typically based
on errors made by the trial judge. "I don't think she made any,"
he said of U.S. District Judge Miriam Goldman Cedarbaum, who
oversaw Stewart's seven-week trial for lying about a suspicious
stock trade.

Stewart, 62, was convicted on Friday of conspiring with her
former Merrill Lynch stock broker to hide the reason behind her
suspicious sale of shares in the biotech company ImClone Systems
Inc. on Dec. 27, 2001. She was found guilty of one count of
conspiracy, two counts of making false statements and one count
of obstruction of agency proceedings. Although Stewart was
convicted of lying to investigators about the circumstances of
the stock sale, she was not charged with insider trading.
Because of this, the judge barred the defense team from arguing
that no illegal trading took place.

Stewart is scheduled to be sentenced on June 17, although that
date could be delayed if lawyers contest key issues the judge
will consider in setting the trendsetter's punishment. The
celebrity homemaker, who built a media empire out of a catering
business, began that torturous process on Monday as she met with
the probation department. That office will submit a report to
Cedarbaum suggesting a sentencing range. Legal experts predict
that the range will most likely be between 10 to 16 months in
prison. After sentencing, the next big question will be whether
Stewart will remain free pending appeal.


MARTHA STEWART: Shares Continue Slide in Wake Of Guilty Verdict
---------------------------------------------------------------
Shares of Martha Stewart Living Omnimedia continued to drop
Tuesday, falling nearly 7% in morning trading as the company's
board remained mum on the founder's future, Crain's
Communications reports.

The stock fell 6.9% to $9.22 Tuesday morning and ended the day
at $9.55, down 3.5%. The decline follows an 8.8% drop Monday and
a 22.6% decline Friday, when Martha Stewart was convicted of
lying to investigators about her sale of ImClone Systems stock.

Ms. Stewart is widely expected to resign from Omnimedia's board,
which met on Tuesday to discuss her fate but announced no
decision. On Monday, Viacom Inc. said it would drop its
broadcasts of the Martha Stewart Living television show, and
Revlon said Ms. Stewart would resign from its board.


MARYLAND: Water Taxi Mishap Claims Second Life; 3 Still Missing
---------------------------------------------------------------
Officials said Tuesday that a second person has died as a result
of the capsizing of a water taxi in Baltimore Harbor, as
recovery crews continued working to locate three people still
missing, the Associated Press reports.

The 36-foot pontoon boat overturned Saturday near Fort McHenry
when a sudden thunderstorm struck the harbor with wind gusts of
up to 55 mph, and all 25 people on board were thrown into the
water. The second victim, a woman, died at Harbor Hospital, Fire
Chief William Goodwin said Tuesday. He refused to identify her.

The boat, which had set out from Fort McHenry on a trip across
the harbor to Fells Point, was equipped with life jackets but
passengers are not required to wear them. A 60-year-old woman,
Joanne Pierce of Cumberland County, N.J., died after the
accident Saturday and three people - a couple who planned to
marry and a 6-year-old boy - disappeared. Searchers met early
Tuesday and made maps of the area, marking off sections of the
harbor that they had already covered.


NEW YORK: Man Shot In Head During Masonic Initiation Ceremony
-------------------------------------------------------------
Local police said Tuesday that a man was killed during a
ceremony at a Masonic temple when another member fired a gun
loaded with real bullets instead of the expected blanks and shot
him in the head, the Associated Press reports.

William James, 47, was shot while participating in an induction
Monday night at the Southside Masonic Lodge, Suffolk County
police said. He was pronounced dead at the scene. A 76-year-old
man alleged to have fired the shot was arrested. Albert Eid, of
Patchogue, was arrested and scheduled to be arraigned Tuesday,
police officer Al Prim told the AP. The district attorney's
office said the .32-caliber pistol used in the shooting was
licensed to Eid.

Police Detective Lt. Jack Fitzpatrick said the ceremony included
a loud noise to frighten the new member. The inductee faces the
front of the room and cans are stacked up behind him, he said. A
gun is fired near the inductee's head and the cans are toppled,
Fitzpatrick added. The lieutenant said Eid had two guns - one
with blanks and one with real bullets - and he apparently pulled
out the wrong one.

Carl Fitje, grand master of the New York State Freemasons, said
in a statement Tuesday that guns do not play a role in any
officially sanctioned lodge ceremonies. "We don't use pistols,"
Steve Mayo, who described himself as a senior deacon of the
lodge, told reporters Tuesday. "This is not a Masonic ceremony
where we bring pistols." Mayo said the Monday night ceremony was
an initiation into the Fellow Craft, which is the second degree
within the multilevel Masonic system.

Mayo said James, of Medford, had been a member of the lodge for
a few months while Eid had been a member for many years. "This
is very upsetting, very upsetting that one of our brothers was
accidentally killed," he said. James worked for the planning
department of the Long Island town of Brookhaven, spokesman Dave
Kennedy said.


OREGON: Court Approves Settlement In Disabled Patients' Lawsuit
---------------------------------------------------------------
U.S. Magistrate Dennis Hubel on Monday approved a settlement in
the class action suit brought in 2000 on behalf of the patients
by the Oregon Advocacy Center, a federally funded watchdog group
for the disabled, allowing sixty-nine mentally ill patients to
be released from state hospitals, where they have been stranded
for years because of inadequate mental health services in the
community, the Associated Press reports.

The state will be required to spend $1.5 million to create 75
new spots in community programs, Kathy Wilde, the group's
lawyer, told the AP. "This settlement is a huge victory," she
said. "It makes more efficient use of public resources, frees
scarce hospital beds for those who need them and honors the
promise of the Americans with Disabilities Act that all citizens
shall be free from needless segregation."  One patient had been
deemed ready for release but remained hospitalized for seven
years because of lack of community-based services. Six others
have waited since 2000. Nine have waited for community placement
since 2001, Wilde said.

State hospital patients in Salem, Portland and Pendleton must be
released within 90 days of a treatment team's decision that they
are "good to go," according to the settlement. Those who aren't
released in that time must be referred to a new, state-operated
Extended Care Management Unit that will then place them in the
community. If placement is not achieved within an additional 90
days, staff will be designated to review each person's situation
to determine what other actions or resources are needed. The
settlement affects all civilly committed individuals who, as of
Dec. 1, 2003, had been awaiting discharge for at least 90 days.

Of the 69 patients affected, the state has agreed to discharge
at least 31 before July 1, 2005. They will seek additional state
funds to discharge the rest. Oregon attorney general spokesman
Kevin Neely said the $1.5 million will be taken from other areas
of the state Department of Human Services budget.


PRESTO TELCOMMUNICATIONS: SEC Obtains Suit Injunction
-----------------------------------------------------
The Securities and Exchange Commission (SEC) obtained a
preliminary injunction in a securities fraud scheme perpetrated
by Alfred Louis "Bobby" Vassallo, Jr., 53, of La Jolla, Calif.,
and his company, Presto Telecommunications, Inc. of San Diego.

Presto, which purports to be an international telecommunications
company "positioned to become Latin America's Premier Integrated
Communications Provider," raised over $11 million from the sale
of securities. Also on March 1, the U.S. District Court for the
Southern District of California granted the other relief that
the Commission sought, including an order freezing Presto's and
Vassallo's  assets, and the appointment of Thomas Lennon as a
permanent receiver over Presto.

The Commission's complaint, filed on Jan. 27, 2004, in federal
court in San Diego, alleges that the defendants induced more
than 800 investors in 42 states to invest in Presto with
promises that the company has significant business relationships
with AT&T, Sprint, MCI, and Qwest. These four telecommunications
companies had purportedly expressed interest in acquiring Presto
or in making capital investments in the company. Further,
investors were advised that Presto is a "partner" to and has
"alliances" with Cisco Systems and Unisys.  Finally, investors
were told that the U.S. Commerce Department was lobbying Mexican
telecommunications regulators on Presto's behalf, and that their
funds would  be  used  to  build and operate a
telecommunications  network  in Mexico.

According to the complaint, these representations were false.
Additionally, the complaint alleges that while Vassallo and
others have represented that investor funds would be used to pay
Presto's business expenses, primarily fiber optics and
equipment, in fact only 16% of investor and company funds were
used for equipment and fiber, and Vassallo himself has
misappropriated at least $1.2 million in investor and company
funds for personal expenses. These expenses included jewelry,
luxury  automobiles,  a down payment  on  an expensive  home,
mortgage   payments,   home  improvements,  political   and
charitable contributions, and school tuition for his children.
The complaint further alleges that  Presto  failed  to  disclose
to prospective  investors that the license its affiliated
entity  received from   the   Mexican  government  in  1998  to
operate   a   commercial telecommunications  network  in Mexico
was,  in  fact,  the  subject  of revocation proceedings that
commenced in 2001.

The  Court's orders of March 1, preliminarily enjoin Presto and
Vassallo from  future violations of the registration and
antifraud provisions  of the  federal  securities laws, Sections
5(a),  5(c)  and  17(a)  of  the Securities Act of 1933 and
Section 10(b) of Securities Exchange  Act  of 1934  and Rule
10b-5 thereunder.  In addition to the preliminary  relief
granted  on  March  1, the Commission seeks permanent
injunctions,  and other  relief, including disgorgement and
civil penalties against Presto and  Vassallo.


PSS WORLD MEDICAL INC: Court Announces $6.75M Pact in Stock Suit
----------------------------------------------------------------
The United States District Court for the Middle District of
Florida, Jacksonville Division announced that a settlement (in
the amount of $6.75 Million in cash, plus accrued interest) has
been reached in the lawsuit against PSS World Medical, on behalf
of all persons who purchased the Company's common stock from
October 26, 1999 through October 3, 2000, inclusive.

Pursuant to an Order by the Court, a hearing will be held on
June 2, 2004, at 10:00 a.m., in Room 12-D, at this Courthouse,
300 North Hogan Street, Jacksonville, Florida.

For more information, contact Howard K. Coates, Jr. or R.
Timothy Vannatta, by Mail: 5355 Town Center Road, Suite 900,
Boca Raton, Florida 33486.


RELIANT: Faces Federal Charges Related To CA Energy Crisis
----------------------------------------------------------
Houston-based Reliant Resources, Inc. on Monday announced that
federal prosecutors plan to indict a Company unit and four
current and former workers in what would be the first criminal
case against a company accused of manipulating power prices
during California's energy crisis, The Las Vegas Sun reports.

Reliant said the U.S. Attorney's Office in the Northern District
of California in San Francisco notified the company Friday of
its intention to seek the indictments. The charges are based on
allegations that the subsidiary, Reliant Energy Services,
manipulated the prices for two days in June 2000 by curtailing
Reliant's electricity generation. In October, federal regulators
approved a $50 million settlement with Reliant over allegations
that the energy trader and producer manipulated Western markets
in 2000 by withholding power to drive up prices.

Nevada Power Co. of Las Vegas has contested contracts with
Reliant and eight other energy providers, claiming the deals
were inflated by market manipulation during the Western energy
crisis. The Federal Energy Regulatory Commission has so far
upheld those contracts, despite findings of manipulation.
Nevada Consumer Advocate Tim Hay said market manipulation in
California drove up prices in Nevada. "The escalation of prices
caused a ripple effect throughout the West," he said.

The subsidiary is responsible for buying fuel for and marketing
power produced by its electric generation facilities. Reliant
"intends to vigorously contest any charges," the company said.
Reliant's 550-megawatt Bighorn power plant near Primm, south of
Las Vegas, went into service last month.

The announcement may portend a slew of class action lawsuits, an
analyst said. Reliant also may face civil or criminal charges by
the U.S. Attorney's Office in Houston, according to a public
filing Tuesday. Prosecutors there have been investigating
whether the company reported bogus natural-gas trades to
industry newsletters in an attempt to manipulate prices, Reliant
said. Patrick Robbins, head of the securities fraud unit at the
U.S. Attorney's Office in San Francisco, declined comment Monday
on possible indictments.

Shares of Reliant, which produces power in 12 U.S. states
besides Nevada, today fell on news of the expected indictment.


ROYAL CARIBBEAN CRUISES: Court Denies Late-Filed Claims in Suit
---------------------------------------------------------------
The United States District Court for the Southern District of
New York denied Plaintiffs motion to allow the application of
late-filed claims but granted the application for an order
providing claimants who submitted timely but unsigned claims the
opportunity to submit signed claim forms in regards a lawsuit
brought against Royal Caribbean Cruises Ltd., et al., on behalf
of Plaintiff employee Ceasar Dahingo, et al., over allegations
that they were denied overtime pay to which they were entitled
under collective bargaining agreements entered into between the
companies and two international labor unions.

In brief, the plaintiffs in this class action are some 29,700
claimants who were employed on cruise ships operated by Royal
Caribbean Cruise, Ltd. and its affiliates, including Celebrity
Cruise Lines. The plaintiffs alleged that they were denied
overtime pay to which they were entitled under collective
bargaining agreements entered into between the companies and two
international labor unions. During the course of litigation, the
parties entered into negotiations that ultimately led to a
settlement agreement that was approved by the Court. The
agreement established a procedure by which class members would
file claims in order to receive payment in specified amounts out
of funds provided by the defendants.


SAME-SEX MARRIAGES: NJ Couples Seek Wedding Licenses Amid Debate
----------------------------------------------------------------
A day after the first gay wedding in New Jersey, several same-
sex couples turned out at City Hall early Tuesday, hoping to
obtain marriage licenses before the state attorney general
sought an injunction barring officials from issuing any more,
the Associated Press reports.

Shortly after the office opened at 9 a.m., at least four couples
seeking licenses began entering the office in Asbury Park,
surrounded by cameras, as they sought the necessary paperwork.
No ceremonies were scheduled for Tuesday because there is a 72-
hour waiting period after obtaining a license.

The state's first marriage took place Monday. In a short 3:30
p.m. ceremony attended by about 10 people, Louis Navarrete and
Ric Best, both of Asbury Park, tied the knot in City Council
chambers. Deputy Mayor James Bruno performed the marriage. Hours
later, State Attorney General Peter C. Harvey said that licenses
issued to gay and lesbian couples by Asbury Park officials are
not valid. He said on Monday night that his office will seek an
injunction to stop the issuing of more licenses. He planned to
cite a New Jersey court ruling that says state law forbids gay
marriage.

"It's our view that any town that issues a marriage license to
same-sex couples is not in compliance with the law and is
essentially issuing worthless paper, since we suspect it will
not be enforced by any court in this state," Harvey told the AP.

On Nov. 5, a judge ruled that New Jersey's marriage statutes do
not permit same-sex marriages. Nothing in the state constitution
guarantees same-sex unions as a right and the appropriate forum
to change marriage laws is the Legislature, the judge ruled. The
ruling is under appeal.


SAME-SEX MARRIAGES: Seattle Couples File Suit Over Right To Wed
---------------------------------------------------------------
Seattle entered the gay marriage debate, with six same-sex
couple suing for the right to wed and Mayor Greg Nickels issuing
an executive order requiring the city to recognize same-sex
marriages by municipal employees, the Associated Press reports.

The six couples sued after being rejected for marriage licenses
by Washington's King County because of a state law that defines
marriage as the union of one man and one woman. King County
Administrator Ron Sims invited the couples to sue him and the
county, explaining that he supported their efforts but had no
choice but to uphold the law. The lawsuit argues the law
violates the equal protection clause of the state Constitution.

Supporters of same-sex weddings won a legal battle when a judge
in Portland, Ore., ruled that the state's most populous county
can continue issuing marriage licenses to gay and lesbian
couples. In denying a request for a preliminary injunction, the
judge ruled that the plaintiffs' challenge, which argued that
officials had violated state law by making a policy change
without holding public meetings, was unlikely to prevail.
Hundreds of gay couples were granted wedding licenses last week
in Portland.


SINA CORPORATION: COMMISSION SANCTIONS NIKOLAI SAFAVI
--------------------------------------------------------
On March 9, the Securities and Exchange Commission (SEC) filed
an injunctive action in federal district court against Nikolai
Safavi for creating a false Reuters news report and publishing
it on the Internet in an attempt to drive down the price of
SINA Corporation common stock so that he could cover his
previously acquired short position at a profit.

The phony Reuters story falsely announced, among other things,
that Goldman Sachs had just rated Sina  Corporation  a "Market
Underperform" in a newly released  research report. Just prior
to Safavi's posting, SINA common stock was trading at  $44.55
per share.  Within half an hour of the posting, the price  of
SINA  shares had dropped to $43.15 per share.  Safavi was able
to  cover his short position and realize a minimal profit.
Without admitting  or denying the allegations set forth in the
Commission's complaint,  Safavi consented  to  the entry of a
final judgment permanently  enjoining  him from  future
violations of Section 10(b) of the Securities Exchange Act of
1934  and  Rule  10b-5 thereunder and imposing a  civil  penalty
of $25,000.


SPRINT: Tracking Stock 'Recombination' Draws Investor Lawsuits
--------------------------------------------------------------
Sprint, the US telecommunications group, is facing at least six
lawsuits by holders of its wireless stock over its decision to
recombine the tracking stocks of its fixed-wire and wireless
businesses, The Financial Times reports.

The legal action was disclosed in Sprint's annual report filed
with the US Securities Exchange Commission on Tuesday. Sprint
said the suits were filed by holders of the Sprint PCS wireless
tracking stock. All the suits seek class action status.

Holders of the Sprint PCS shares are angry about the terms of
the recombination which they see as favoring holders of the
stock in the fixed-wire business - a charge that Sprint's senior
executives have fiercely denied. Sprint plans to exchange each
PCS share for 0.5 FON shares. The PCS stock would be eliminated
on April 23. During a shareholder and analysts meeting last week
one Sprint PCS shareholder described the terms as "highway
robbery".

One suit was filed in New York, the company said, while the
other five were filed in Sprint's home state of Kansas. It said
all six suits were filed in early March. "The actions allege
breach of fiduciary duty in connection with the approval of the
recombination, and seek injunctive relief or monetary damages,"
Sprint said in the filing.

Meanwhile, rumors that Sprint, the fourth largest mobile phone
operator in the US, plans to sell the 6,000 towers that transmit
signals on its mobile telephone network surfaced again this
week. Unlike most US wireless network operators which lease
radio towers, Sprint owns its own towers. The company is
understood to have retained Citigroup and Bank of America to
advise it on a potential deal. Funds from any sale, which could
total around $1 billion, would probably be used to pay down debt
and would be welcomed on Wall Street.

SUN HEALTHCARE: New Mexico Plaintiffs Appeal to CA 10th Circuit
---------------------------------------------------------------
In March and April 1999, class action lawsuits were filed
against Sun Healthcare Group Inc. and three individuals, who
were at that time company officers, in the United States
District Court for the District of New Mexico.  These actions
have been consolidated as In re Sun Healthcare Group, Inc.
Securities and Litigation Master, File No. Civ. 99-269.

"The lawsuits allege, among other things, that we did not
disclose material facts concerning the impact that changes to
reimbursement for our skilled nursing facilities under
Medicare's prospective payment system would have on our results
of operations," Sun Healthcare said in a recent SEC filing. "The
lawsuits seek compensatory damages and other relief for
stockholders who purchased common stock during the class-action
period."

Pursuant to an agreement among the parties, the company was
dismissed without prejudice in December 2000.  In January 2002,
the District Court dismissed the lawsuit with prejudice and
entered judgment in favor of the remaining defendants.  In
February 2002, the plaintiffs filed a Motion to Amend the
Judgment and to File an Amended Complaint.  In April 2003, the
plaintiffs' Motion was denied by the United States District
Court for the District of New Mexico.  In May 2003, the
plaintiffs filed an appeal with the United States Court of
Appeals for the Tenth Circuit.

For more information, contact Sun Healthcare Group Inc. by Mail:
101 Sun Avenue N E, Albuquerque NM 87109 or by Phone:
(505) 821-3355


TEXAS: Fire Engulfs Chemical Warehouse Near Houston Suburb
----------------------------------------------------------
A huge fire in a chemical warehouse produced clouds of dense
smoke Tuesday and firefighters warned residents of the area
outside Houston to stay indoors, the Associated Press reports.

Balls of flame and black smoke were visible for miles from the
Controlled Solutions warehouse, about 20 miles southeast of
downtown Houston. The warehouse contained an assortment of
chemicals, including pesticides, and combustible materials such
as wood and paper, officials said.

Firefighters were called from neighboring departments and oil
refineries to help battle the blaze, which broke out shortly
before daybreak. A dense column of black smoke drifted toward
the southeast, prompting firefighters to urge residents to stay
indoors in parts of Pasadena, El Lago, Taylor Lake Village and
Seabrook.

There were no immediate reports of injuries and authorities said
they did not know what caused the fire.


TOYOTA MOTOR CORP: U.S. Launches Probe Over Acceleration Defect
---------------------------------------------------------------
Japan's biggest auto maker, Toyota Motor Corp., said on Tuesday
that the U.S. government has launched an investigation into
three of its vehicle models, including the Camry -- its best-
selling model in the United States -- over an alleged defect
that causes sudden acceleration, Reuters News reports.

On Monday, the U.S. highway safety authority announced that it
had received reports of 30 crashes that injured at least five
people, when some Toyota Camry, Camry Solara and Lexus ES300
vehicles suddenly and unexpectedly surged forward. An estimated
1,010,000 vehicles from the 2002 and 2003 model years could be
affected, according to the NHTSA.

"One of the noted injuries was serious: it occurred when a
pedestrian was struck by a vehicle which allegedly surged
forward unexpectedly," the National Highway Traffic Safety
Administration (NHTSA) said in a statement released on the
Internet.

A spokeswoman for Toyota confirmed the NHTSA's investigation
into the three models, but she said she could not give further
details of the investigation. Shares in Toyota earlier ended
Tokyo trade up 0.51 percent at 3,950 yen, against a 0.25 percent
rise in the benchmark Nikkei average.


TYCO INTERNATIONAL: Defense Lawyer's Illness Delays Fraud Trial
---------------------------------------------------------------
The corporate corruption trial of two former top Tyco
International Ltd. executives was delayed on Tuesday after the
lead defense attorney for former Tyco Chairman Dennis Kozlowski
became ill, Reuters News reports.

Manhattan Supreme Court Judge Michael Obus said Stephen Kaufman,
Kozlowski's top lawyer, called him Monday night to say that he
apparently had the flu. Obus said closing arguments in the case
would resume on Thursday. Kozlowski and former Tyco finance
chief Mark Swartz are accused of looting Tyco of $600 million
through unauthorized bonuses, loans and fraudulent stock sales.

Charles Stillman, the top defense lawyer for Swartz, spent
several hours on Monday delivering his closing argument in which
he said Swartz never acted with criminal intent. Manhattan
prosecutors are set to deliver their closing arguments on
Friday, with the case going to the jury next week.


UCLA: Newspaper Article Says Invoice Details Theft of Body Parts
----------------------------------------------------------------
A day after the University of California at Los Angeles' (UCLA)
School of Medicine revealed that two men had been arrested for
selling body parts to research firms for profit, a Los Angeles
Times article that a worker at a top U.S. medical school and his
alleged accomplice peddled parts stolen from 496 corpses donated
to medical science for more than $704,000 dollars, AFP reports.

The paper said it had seen invoices revealing that the head of
the medical school's willed-body program, Henry Reid, and co-
accused Ernest Nelson, had sold 496 cadavers for a total of
$704,600 dollars over the six years between 1998 and 2003.
Reid and Nelson were arrested at the weekend after university
authorities were alerted to the claims that bodies willed to it
for medical science were being dismembered and the parts sold to
research corporations.

University officials said they had known nothing of the scheme
until they were threatened with a lawsuit over a body parts
transaction that went awry, and declined to confirm earlier
reports that up to 800 bodies were involved. According to the
invoices shown to the Times by lawyers for alleged body-parts
middleman Nelson, the valuable parts were sold by him to
companies including US pharmaceutical giant Johnson and Johnson.
A Johnson and Johnson spokesman told the paper she was
unfamiliar with any such transactions and company officials
could not immediately be reached for comment on the grisly
scheme. The paper said the invoices were printed on UCLA
letterheads and quoted university officials as saying that they
had not seen the invoices which they suggested could have been
forged.

Reid was charged with grand theft and released on $20,000
dollars bail, while Nelson, who was not employed by UCLA and is
accused of hacking bits off bodies and selling them onto
research firm for profit, was arrested and held on $30,000
dollars bail. The revelation of a lucrative trade in body parts
has horrified relatives of people who willed their cadavers to
the prestigious medical school to help train doctors. Some
family members sued the university late Monday. The new lawsuit,
expected to become a class action suit, is seeking unspecified
damages for families of donors "whose gifts have been completely
and totally violated."

The University on Monday apologized for the gruesome trade and
breach of trust and announced a major shake-up of its willed-
body program. "These alleged crimes violate the trust of the
donors, their families and UCLA," said Gerald Levey, vice
chancellor of UCLA Medical Sciences and dean of the medical
school. "We are deeply sorry."


U.S. AIR FORCE: Launches Sexual Assault Charge Probe
-----------------------------------------------------
Prompted by nearly 100 accusations of rape involving U.S. Air
Force personnel in the Pacific region, the service said on
Tuesday it has launched an investigation into how sexual
assaults are being dealt with, Reuters News reports.

The move is the latest in a recent series of reports detailing
problems of sexual attacks and alcohol abuse in the U.S.
military. Defense Secretary Donald Rumsfeld quickly expressed
concern over the issue. "One cannot read the kinds of reports
you're referring to and not have a deep concern about the armed
forces, because we do hold ourselves to a higher standard," he
said on Tuesday at a Pentagon news briefing.

Last month, the secretary ordered a wider probe into Pentagon
measures to prevent sex attacks within the ranks after a spate
of reports of male troops abusing female comrades in Iraq and
Kuwait. The Army has launched a similar investigation of those
incidents. Air Force officials on Tuesday confirmed a New York
Times report that at least 92 accusations of rape involving Air
Force personnel in the Pacific were reported to military
authorities there from 2001 to 2003.

The findings in the newly released study suggested major flaws
in reporting sexual assault claims and providing assistance to
victims. The inquiry focused on air bases in South Korea, Japan,
Guam, Singapore, Hawaii, Alaska and the island of Diego Garcia
in the Indian Ocean. Air Force officials on Tuesday released a
letter from Gen. Michael Moseley, the service's vice chief of
staff, to all major commands ordering an assessment of sexual
assault programs. "Striving to eliminate sexual assault and the
climate that fosters it," was the top goal listed by Moseley in
the letter, dated Feb. 24. He also emphasized ensuring an
environment where victims have confidence to report assaults and
the appropriate authorities can investigate and prosecute
incidents.

Of 106 service members accused in the 92 cases cited in the
Pacific region report, 14 were tried by court-martial, the Air
Force said. Seven were convicted of rape and sentenced to an
average of eight years in prison. More than 40 others received
lesser punishments such as demotions, letters of reprimand or
lost pay. Many cases are still pending, Air Force officials
said.

A Pentagon study released on Monday said nearly one in five
members of the U.S. armed forces was a heavy drinker and noted
drinking and sexual misconduct often go together. The Pentagon
said last month that in the U.S. Central Command region -- which
includes Iraq, Kuwait and Afghanistan -- the U.S. military had
received reports in the past year of 88 cases of "sexual
misconduct." Meanwhile, the Pacific Command study indicated that
the number of rapes reported in that region were growing. It
listed 34 rapes reported in 2001, 17 in 2002 and 41 in 2003.
In the first four weeks of this year, another six such incidents
were reported, Air Force officials said.


VISTA 2000: SEC Obtains Final Judgment V. Ex-VP In Stock Suit
-------------------------------------------------------------
The Securities and Exchange Commission (SEC) announced that the
Honorable Clarence Cooper of the U.S. District Court for the
Northern District of Georgia has entered a final judgment
against Michael J. Becker of Marietta, Georgia directing payment
of disgorgement in the amount of $191,127, along with
prejudgment interest thereon in the amount of $33,873, and
waiving prejudgment interest in excess of that amount.  Becker
consented to the entry of the final judgment without admitting
or denying the allegations of the Commission's complaint and
first amended complaint.

In an earlier order of Oct. 11, 2001, Becker, who had served as
Vista  2000, Inc.'s vice president of finance and
administration, was permanently enjoined from further violations
of Section 17(a) of the Securities Act of 1933 and Section 10(b)
of the Securities Exchange Act of 1934 and Rule 10b-5
thereunder.

The Commission's complaint and first amended complaint alleged a
wide-range of securities law violations, including that
misstatements were made by Vista in filings with the Commission.
The allegations against Becker included that he recorded various
transactions at Vista in contravention of generally accepted
accounting principles, and engaged in insider trading in Vista
securities at a time when Vista's revenues, income, earnings per
share, and assets were overstated.


WASHINGTON GROUP: Approval of ERISA Suit Settlement Pending
-----------------------------------------------------------
Some current and former officers, employees and directors of
Washington Group International Inc. were named defendants in an
action filed in 1997 by two former participants in the Old MK
401(k) Plan and the Old MK Employee Stock Ownership Plan in the
U.S. District Court for the District of Idaho.  The complaint
alleges, among other things, that the defendants breached
certain fiduciary duties under the Employee Retirement Income
Security Act of 1974 (ERISA).

In October 2003, an agreement in principle was reached to settle
the matter. The settlement will include contributions from
insurance carriers, the two trustees and Washington Group
International. In addition, the plaintiffs' claim in the
company's reorganization case will be allowed and plaintiffs
will be entitled to participate in the distribution of shares of
common stock and warrants to unsecured creditors.

"The settlement is subject to approval by the trial court in
which the class action is pending and has been approved by the
bankruptcy court, which presides over our reorganization case,"
the company said in its latest SEC disclosure.  "A charge of
$3,480 for settlement costs and legal expenses related to this
matter was included in other operating income (expense) in the
year ended January 2, 2004."

For more information, contact Washington Group International
Inc. by Mail: 720 Park Blvd, Morrison Knudsen Plaza, Boise
ID 83729 or by Phone: (208) 386-5000


WASHINGTON MUTUAL: WI Court Denies Dismissal Of Mortgage Lawsuit
----------------------------------------------------------------
The United States District Court for the Eastern District of
Wisconsin denied Defendant's motion to dismiss a lawsuit brought
against the Washington Mutual Bank F.A., on behalf of Plaintiff
Veronique Jeanty, alleging that Foundation Funding Group, Inc
violated the Truth in Lending Act, as amended by the Home Owners
Equity Protection Act, 15 U.S.C. 1602(aa) and 1639, by failing
to properly disclose to plaintiff the amount of her monthly
mortgage payments.

The relevant facts are as follows: in June 2000, plaintiff
obtained a mortgage from Foundation. The mortgage was insured by
the Federal Housing Administration. The mortgage was subject to
TILA and, because the points and fees exceeded eight percent of
the loan, to HOEPA as well. Under HOEPA, Foundation was required
to make certain disclosures, known as "section 32" disclosures,
three days prior to closing. Among the disclosures required by
section 32 was the amount of the regular monthly mortgage
payment. 15 U.S.C. 1639(a)(2)(A); 12 C.F.R. 226 .32(c)(3). In
its disclosure statement, Foundation indicated that  plaintiff's
regular monthly payment would be $675.90. However, Foundation
did not include in this amount the monthly premiums that
plaintiff would be required to pay for FHA mortgage insurance.
If such premiums had been included, plaintiff's regular monthly
payment would have ranged between $677.64 and $709.74 over the
life of the loan.

Plaintiff claims that Foundation's failure to include the FHA
insurance premiums in the amount of the regular payment violated
TILA. Defendant Washington Mutual Bank F.A. purchased
plaintiff's loan from Foundation, and the parties agree that,
if Foundation violated TILA, defendant is liable. However,
defendant contends that under TILA, Foundation was not required
to include the FHA premiums in its disclosure and moves to
dismiss the complaint pursuant to Fed.R.Civ.P. 12(b)(6).


WEYERHAEUSER CO: Reaches $34.5 Million Pact In Antitrust Lawsuit
----------------------------------------------------------------
Weyerhaeuser Co. on Tuesday agreed to pay $34.5 million to
settle a lawsuit that alleged the forest products company
manipulated alder wood markets to drive competitors out of
business, the Associated Press reports.

Weyerhaeuser, based in Federal Way, did not admit liability in
settling the antitrust lawsuit with four hardwood lumber mills
in Oregon and Washington state. The case had been scheduled to
go to trial Tuesday in U.S. District Court in Portland, Ore.
Michael Haglund, a lawyer representing the companies that filed
the lawsuit, said the plaintiffs were satisfied that the
settlement makes up for losses they believe they suffered when,
they contend, alder prices were being artificially pushed up.
Haglund said the plaintiffs also believe that Weyerhaeuser's
practices have changed in the past year.

But Frank Mendizabal, a spokesman for Weyerhaeuser, said he
doesn't know of any specific changes the company has made to its
business practices, since he said the company believes it has
never done anything wrong. "We continue to believe that we have
operated legally and ethically in the alder business, as we do
in all our businesses," Mendizabal told the AP. He said the
company felt that it was in its best financial interest to
settle the case. The company will take an after-tax charge of
$23 million or 10 cents per share in the current first quarter
in relation to the settlement.

The plaintiffs in the case were Cascade Hardwood in Chehalis,
Alexander Lumber Mill in Onalaska, Westwood Lumber Co. in
Reedsport, Ore., and Morton Alder Mill in Willamina, Ore.

The case, filed last year, is one of several antitrust lawsuits
Weyerhaeuser has faced concerning its practices in the alder
market. Two other cases are scheduled to go to trial later this
year in relation to alder, which is used in furniture and
cabinet making. The lawsuits follow a victory last year by Ross-
Simmons Hardwood Lumber in Longview, which won a $78 million
judgment in a federal antitrust lawsuit against Weyerhaeuser.
Ross-Simmons alleged Weyerhaeuser bought large quantities of
alder to deprive competitors of raw materials.

Weyerhaeuser has said it will appeal that case.


WEYERHAEUSER CO.: Sets Aside $173M for 'Hardboard' Settlement
-------------------------------------------------------------
Weyerhaeuser Co. announced in June 2000 it had entered into
a proposed nationwide settlement of its hardboard siding class
action cases and, as a result, took a charge of $130 million
before taxes to cover the estimated cost of the settlement and
related claims.  The court approved the settlement in December
2000.  An appeal from the settlement was denied in March 2002,
and the settlement is now binding on all parties.

In the third quarter of 2001, the company reassessed the
adequacy of the reserve and increased the reserve by an
additional $43 million.  The company incurred claims and related
costs in the amount of $11 million in 2003, $11 million in 2002
and $37 million in 2001 and charged these costs against the
reserve.  As of December 28, 2003, the company had approximately
$83 million in reserves remaining for hardboard siding claims.

"While the company believes that the reserve balances
established for these matters are adequate, the company is
unable to estimate at this time the amount of additional
charges, if any, that may be required for these matters in the
future," Weyerhaeuser said in a recent SEC disclosure.

The settlement class consists of all persons who own or owned
structures in the United States on which the company's hardboard
siding had been installed from January 1, 1981 through December
31, 1999. This is a claims-based settlement, which means that
the claims will be paid as submitted over a nine-year period.
An independent adjuster will review each claim submitted and
determine whether it qualifies for payment under the terms of
the settlement agreement.

For more information, contact Weyerhaeuser Co. by Mail: 33663
Weyerhaeuser Way South, Federal Way WA 98003 or by Phone:
(253) 924-2345.


W.R. GRACE: Bankruptcy Court to Take Up New Asbestos Suits May
--------------------------------------------------------------
In February 2000 a purported class action lawsuit was filed in
the U.S. District Court for the Eastern District of
Massachusetts against W.R. Grace & Co. (Lindholm v. W. R. Grace
& Co.) on behalf of all owners of homes containing ZAI, a
product formerly sold by Grace that may contain trace amounts of
asbestos.  The action seeks damages and equitable relief,
including the removal, replacement and/or disposal of all such
insulation.

After Lindholm was filed, nine additional purported class action
ZAI lawsuits were initiated against Grace prior to the Chapter
11 filing.  The nine lawsuits were filed in various state and
federal courts asserting similar claims and seeking damages
similar to those in Lindholm.  One of the purported federal
class actions has been consolidated with Lindholm.  As a result
of the Chapter 11 filing, all of these cases have been
transferred to the U.S. Bankruptcy Court for the District of
Delaware.

The plaintiffs in the ZAI lawsuits assert that this product is
in millions of homes throughout the U.S. and that the cost of
removal could be several thousand dollars per home. Based on
Grace's investigation of the claims described in these lawsuits,
and testing and analysis of this product by Grace and others,
Grace believes that the product was and continues to be safe for
its intended purpose and poses little or no threat to human
health.

In July 2002, the Bankruptcy Court approved special counsel to
represent the ZAI claimants, at Grace's expense, in a proceeding
to determine certain threshold scientific issues regarding ZAI.
The parties have completed discovery with respect to these
threshold issues and have filed motions asking the Bankruptcy
Court to resolve a number of important legal and factual issues
regarding the ZAI claims.

"Grace expects the Bankruptcy Court to establish a schedule for
determining the pending motions following the next status
conference in May 2004. At this time, Grace is not able to
assess the extent of any possible liability related to this
matter," W.R. Grace said in a recent SEC Filing.

For more information, contact W.R. Grace & Co. by Mail: 7500
Grace Drive, Columbia MD 21044 or by Phone: (410) 531-4000


YUM! BRANDS: Settlement of Wage-Hour Suit vs. Taco Bell Okayed
--------------------------------------------------------------
A class action lawsuit against YUM! Brands Inc. subsidiary, Taco
Bell Corp., entitled Bravo, et al. v. Taco Bell Corp. (Bravo),
was filed on August 29, 1997 in the Circuit Court of the State
of Oregon of the County of Multnomah.

The lawsuit was filed by two former Taco Bell shift managers
purporting to represent approximately 17,000 current and former
hourly employees statewide.  The lawsuit alleged violations of
state wage and hour laws, principally involving unpaid wages
including overtime, and rest and meal period violations, and
sought an unspecified amount in damages.

Under Oregon class action procedures, Taco Bell was allowed an
opportunity to "cure" the unpaid wage and hour allegations by
opening a claims process to all putative class members prior to
certification of the class.  In this cure process, Taco Bell
paid out less than $1 million.

On January 26, 1999, the Court certified a class of all current
and former shift managers and crewmembers who claim one or more
of the alleged violations.  A Court-approved notice and claim
form was mailed to approximately 14,500 class members on January
31, 2000.  Trial began on January 4, 2001.  On March 9, 2001,
the jury reached verdicts on the substantive issues in this
matter.  A number of these verdicts were in favor of the Taco
Bell position; however, certain issues were decided in favor of
the plaintiffs.

In April 2002, a jury trial to determine the damages of 93 of
those claimants found that Taco Bell failed to pay for certain
meal breaks and/or off-the-clock work for 86 of the 93
claimants.  However, the total amount of hours awarded by the
jury was substantially less than that sought by the claimants.
In July and September 2002, the court ruled on several post-
trial motions, including fixing the total number of potential
claimants at 1,031 (including the 93 claimants for which damages
had already been determined) and holding that claimants who
prevail are entitled to prejudgment interest and penalty wages.

The second damages trial for the remaining 938 claimants began
on July 7, 2003.  Before the trial concluded, the parties
reached an agreement to settle this matter in full. The court
granted final approval of the settlement on December 23, 2003
and final judgment of dismissal was entered on December 26,
2003. Payments to class counsel and eligible claimants were made
in the first quarter of 2004.

"We have previously provided for the costs of this settlement as
AmeriServe and other charges (credits)," YUM! Brands said in a
recent SEC disclosure.

For more information, contact YUM! Brands Inc. by Mail: 1441
Gardiner Lane, Louisville KY 40213 or by Phone: (502) 874-8300


                  New Securities Fraud Cases


99 CENTS ONLY: Brian Felgoise Files Securities Suit in C.D. CA
--------------------------------------------------------------
Brian M. Felgoise, P.C. initiated a securities class action in
the United States District Court for the Central District of
California, on behalf of shareholders who acquired 99 Cents Only
Stores securities between April 20, 2000 and February 4, 2004,
inclusive, 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 information, contact Brian M. Felgoise, by Mail: 261
Old York Road, Suite 423, Jenkintown, Pennsylvania, 19046, by
Phone: (215) 886-1900, or by E-mail:
securitiesfraud@comcast.net.


AaiPHARMA: Wolf Haldenstein Launches Securities Suit in E.D. NC
---------------------------------------------------------------
Wolf Haldenstein Adler Freeman & Herz LLP initiated a class
action lawsuit in the United States District Court for the
Eastern District of North Carolina, on behalf of all persons who
purchased or otherwise acquired the common stock of aaiPharma,
Inc. between January 31, 2002 and February 27, 2004, inclusive,
against defendants aaiPharma and certain officers and directors
of the Company.

The complaint, styled: Thornton v. aaiPharma, Inc., et al.,
alleges that throughout the Class Period, defendants released
many statements to the investing public regarding the Company's
financial results, which failed to disclose and/or
misrepresented several material adverse facts which were known
to defendants or recklessly disregarded by them:

     (1) that the Company's central business plan was worsening;

     (2) that aaiPharma was unloading inventory onto wholesalers
         in order to make sales;

     (3) that the aforementioned practice was essential because
         the Company needed to maintain its stock price in order
         to repel a third party suitor;

     (4) that aaiPharma was improperly recognizing revenue, in
         violation of Generally Accepted Accounting Principles,
         from sales that were incomplete.

On February 5, 2004, aaiPharma announced that the Company
expected net revenues to be between $340 million and $355
million for 2004. Diluted earnings per share for 2004 were
expected to remain, as previously disclosed, between $1.45 and
$1.52. Based on current trends, milestones achieved and other
developments, the Company expected to generate earnings of $0.27
to $0.30 per diluted share during the first quarter of 2004. In
addition, aaiPharma reported that it was setting aside money to
pay for refunds on older medicines after an especially high
return rate in the fourth quarter.

For more information, contact Fred Taylor Isquith, Gregory M.
Nespole, Christopher S. Hinton, 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 Web site: http://www.whafh.com.


ACTIVISION INC: Brian Felgoise Files Securities Suit in C.D. CA
---------------------------------------------------------------
Brian M. Felgoise, P.C. initiated a securities class action
in the United States District Court for the Central District of
California, on behalf of shareholders who acquired Activision,
Inc. securities between February 1, 2001 and December 17, 2002,
inclusive, 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 information, contact Brian M. Felgoise, by Mail: 261
Old York Road, Suite 423, Jenkintown, Pennsylvania, 19046, by
Phone: (215) 886-1900, or by E-mail:
securitiesfraud@comcast.net.


AGCO CORPORATION: Schoengold & Sporn Files Securities Suit in GA
----------------------------------------------------------------
Schoengold & Sporn, P.C. announced that the New York City Police
Department's Detective's Endowment Association Annuity Fund has
commenced a securities class action lawsuit in the United States
District Court for the Northern District of Georgia, on behalf
of all purchasers of AGCO securities during the period between
February 6, 2003 and February 5, 2004, against defendants AGCO
Corporation, Inc., and:

     (1) Robert J. Ratliff, and

     (2) Andrew H. Beck

The complaint charges the defendants with violations of Sections
10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule
10b-5 promulgated thereunder.  During the Class Period, the
defendants issued a series of material misrepresentations to the
market concerning the Company's financial results.  More
specifically, the defendants' statements during the Class Period
were materially false and misleading because they failed to
disclose and/or misrepresented the following adverse facts,
among others:

     (i) that the Company improperly recorded revenue on its
         "bill and hold" transactions where risk did not pass to
         the customer;

    (ii) that the Company recklessly disregarded its own
         policies regarding recognizing revenue; and

   (iii) as a result of the foregoing, the Company's net
         income and earnings per share published during the
         Class Period were not in accordance with Generally
         Accepted Accounting Principles and were therefore
         materially false and misleading.

On February 5, 2004, the Company shocked the market when it
issued a press release announcing its fourth quarter and year-
end results for fiscal 2003, the period ended December 31, 2003.
At that time, the Company also disclosed that AGCO received an
informal inquiry from the SEC asking AGCO for its policies and
related information with regard to AGCO's accounting for revenue
recognition (particularly bill and hold transactions), sales and
sales returns and allowances, plant and facility closing costs
and reserves, and personal use of corporate aircraft. Upon this
news, shares of the Company's stock fell approximately 16%, or
$3.10 per share, to close at $16.25 per share on extremely high
trading volume.

For more information, contact Frank R. Schirripa, by Mail:
19 Fulton Street, Suite 406, New York, New York 10038, by Phone:
(212) 964-0046 or (866) 348-7700 (toll free), Fax:
(212) 267-8137, by E-mail:  shareholderrelations@spornlaw.com,
or visit the firm's Web site: http://www.spornlaw.com.


AMERICAN EXPRESS: Cauley Geller Launches Securities Suit in NY
--------------------------------------------------------------
Cauley Geller Bowman & Rudman, LLP initiated a class action
lawsuit in the United States District Court for the Southern
District of New York, on behalf of clients of American Express
Financial Advisors, Inc. who purchased mutual funds in the
American Express family of mutual funds, which are managed by
the American Express Company, between March 10, 1999 and
February 9, 2004.

The complaint charges AEC, American Express Financial
Corporation, and AEFA with violations of Securities Exchange Act
of 1934, among other claims, and for common law breach of
fiduciary duties. According to the Complaint, AEFA, through its
financial advisors, failed to disclose that their
recommendations were based not on their understanding of their
client's financial personal needs and stage in life, but rather,
solely or primarily on their incentives to increase assets under
AEFC's management. Moreover, the defendants failed to disclose
that they had revenue sharing arrangements with 11 preferred
funds and such revenue sharing agreements clearly presented
conflicts of interest, pitting the financial interest of the
AEFA advisors against that of its clients. Rather than disclose
these conflicts, defendants sought to conceal the truth in order
to generate greater fees for themselves.

For more information, contact Samuel H. Rudman or David A.
Rosenfeld, Client Relations Department: Chandra West, Jackie
Addison or Heather Gann, by Mail: P.O. Box 25438, Little Rock,
AR 72221-5438, by Phone: 1-888-551-9944 (toll free), Fax:
1-501-312-8505, or E-mail: info@cauleygeller.com.


AMERICAN EXPRESS: Milberg Weiss Commences Securities Suit in NY
---------------------------------------------------------------
Milberg Weiss Bershad Hynes & Lerach LLP initiated a class
action lawsuit in the United States District Court for the
Southern District of New York, on behalf of clients of American
Express Financial Advisors, Inc. who purchased mutual funds in
the American Express family of mutual funds between March 10,
1999 and February 9, 2004, seeking to pursue remedies under the
Securities Exchange Act of 1934, the Investment Advisers Act of
1940 and common law, against the American Express Company,
American Express Financial Corporation and AEFA.

According to the complaint, defendants violated sections 10(b)
and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5
promulgated thereunder by the Securities and Exchange
Commission, and all amendments thereto, by issuing a series of
material misrepresentations to AEFA clients during the Class
Period. Specifically, the complaint alleges that AEFA, through
its financial advisors, purported to provide objective
investment and financial planning advice based on each client's
particular circumstances in life but, in fact, had an
undisclosed interest in pushing AEC Funds and certain other
preferred funds, which were among the poorest performing mutual
funds on the market. The Complaint further alleges that class
members were harmed by defendants' fraudulent conduct because
they paid AEFA a substantial fee and believed they were
receiving objective advice when, in fact, AEFA financial
advisors were strongly motivated to and did advise their clients
to purchase AEC Funds and certain other preferred funds. The
Complaint further alleges that because of such deception and
manipulation, AEFA clients were prevented from making fully
informed investment decisions and that their trust reposed in
their AEFA advisors was violated.

For more information, contact Steven G. Schulman, Peter E.
Seidman, or Andrei V. Rado, by Mail: One Pennsylvania Plaza,
49th fl., New York, NY, 10119-0165, by Phone: (800) 320-5081, by
E-mail: americanexpressfunds@milberg.com, or visit the firm's
Web site: http://www.milberg.com.


AMERICAN EXPRESS: Schiffrin & Barroway Launches Stock Suit in NY
----------------------------------------------------------------
Schiffrin & Barroway, LLP initiated a class action lawsuit in
the United States District Court for the Southern District of
New York on behalf of clients of American Express Financial
Advisors, Inc. who purchased mutual funds in the American
Express family of mutual funds, which are managed by the
American Express Company between March 10, 1999 and February 9,
2004, seeking to pursue remedies under the Securities Exchange
Act of 1934, the Investment Advisers Act of 1940 and common law.

The complaint charges AEC, American Express Financial
Corporation, and AEFA with violations of sections 10(b) and
20(a) of the Securities Exchange Act of 1934, and Rule 10b-5
promulgated thereunder. According to the Complaint, AEFA,
through its financial advisors, failed to disclose that their
recommendations were based not on their understanding of their
client's financial personal needs and stage in life, but rather,
solely or primarily on their incentives to increase assets under
AEFC's management. Moreover, the defendants failed to disclose
that they had revenue sharing arrangements with 11 preferred
funds and such revenue sharing agreements clearly presented
conflicts of interest, pitting the financial interest of the
AEFA advisors against that of its clients. Rather than disclose
these conflicts, defendants sought to conceal the truth in order
to generate greater fees for themselves.

For more information, contact Marc A. Topaz or Stuart L. Berman,
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.


COLUMBIA FUNDS: Stull Stull Lodges Securities Suit in S.D. NY
-------------------------------------------------------------
Stull Stull & Brody, LLP initiated a class action lawsuit in the
United States District Court for the Southern District of New
York, on behalf of all purchasers, redeemers and holders of
shares of Columbia Acorn Fund (Nasdaq: LACAX, LACBX, LIACX,
ACRNX), Columbia Acorn Select (Nasdaq: LTFAX, LTFBX, LTFCX,
ACTWX), Columbia Acorn USA (Nasdaq: LAUAX, LAUBX, LAUCX, AUSAX),
Columbia Asset Allocation Fund (Nasdaq: LAAAX, LAABX, LAACX,
GBAAX, GAAAX, GAATX), Columbia Balanced Fund (Nasdaq: CBLAX,
CBLBX, CBLCX, CBLDX, CBALX), and other Columbia Funds, Columbia
Management Group, Inc., Columbia Management Advisors, Inc. and
Columbia Wanger Asset Management, L.P. between February 13, 1999
and January 14, 2004, inclusive.

The following Columbia Funds are subject to this lawsuit:

     (1) Columbia Acorn Fund (Nasdaq: LACAX, LACBX, LIACX,
         ACRNX)

     (2) Columbia Acorn Select (Nasdaq: LTFAX, LTFBX, LTFCX,
         ACTWX)

     (3) Columbia Acorn USA (Nasdaq: LAUAX, LAUBX, LAUCX, AUSAX)

     (4) Columbia Asset Allocation Fund (Nasdaq: LAAAX, LAABX,
         LAACX, GBAAX, GAAAX, GAATX)

     (5) Columbia Balanced Fund (Nasdaq: CBLAX, CBLBX, CBLCX,
         CBLDX, CBALX)

     (6) Columbia Common Stock Fund (Nasdaq: CMSAX, CMSBX,
         CCSCX, CMSDX, CMSTX)

     (7) Columbia Disciplined Value Fund (Nasdaq: LEVAX, LEVBX,
         LEVCX, GEVBX, GALEX, GEVTX)

     (8) Columbia Dividend Income Fund (Nasdaq: LBSAX, LBSBX,
         LBSCX, GEQBX, GEQAX, GSFTX)

     (9) Columbia Growth & Income Fund (Nasdaq: CFGAX, CFGBX,
         CFGDX, LGISX)

    (10) Columbia Growth Fund (Nasdaq: CGWAX, CGWBX, CGWCX,
         CGWDX, CGWGX, CLMBX)

    (11) Columbia Growth Stock Fund (Nasdaq: CGSAX, CGSBX,
         CGSCX, SRFSX)

    (12) Columbia Large Cap Core Fund (Nasdaq: LCCAX, LCCBX,
         LCCCX, GGRBX, SGIEX, SMGIX)

    (13) Columbia Large Cap Growth Fund (Nasdaq: LEGAX, LEGBX,
         LEGCX, GBEGX, GAEGX, GEGTX)

    (14) Columbia Large Company Index Fund (Nasdaq: LLIAX,
         LLIBX, LLICX, ILCIX)

    (15) Columbia Liberty Fund (Nasdaq: COLFX, CCFBX, CTCCX,
         CTCFX)

    (16) Columbia Mid Cap Growth Fund (Nasdaq:CBSAX, CBSBX,
         CMCCX, CBSDX, CBSGX, CBSTX,CLSPX)

    (17) Columbia Mid Cap Value Fund (Nasdaq: COLGX, COGBX,
         CSVCX, LSVSX)

    (18) Columbia Real Estate Equity Fund (Nasdaq: CREAX, CREBX,
         CRECX, CREDX, CREEX)

    (19) Columbia Small Cap Fund (Nasdaq: LSMAX, LSMBX, LSMCX,
         GBSMX, SSCEX, SMCEX)

    (20) Columbia Small Cap Growth Fund (Nasdaq: CMSCX)

    (21) Columbia Small Cap Value Fund (Nasdaq: CSMIX, CSSBX,
         CSSCX, CSCZX)

    (22) Columbia Small Company Equity Fund (Nasdaq:
         LSEAX,LSEBX,LSECX,GERBX,GASEX,GSETX)

    (23) Columbia Small Company Index Fund (Nasdaq: LBIAX,
         LBIBX, LBICX, ISCIX)

    (24) Columbia Strategic Investor Fund (Nasdaq: CSVAX, CSVBX,
         CSRCX, CSVDX, CSVFX)

    (25) Columbia Tax-Managed Aggressive Growth Fund (Nasdaq:
         LTMAX, LTAGX, LTACX, LTAZX)

    (26) Columbia Tax-Managed Growth Fund (Nasdaq: STMAX, CTMBX,
         CTMCX, LMGZX)

    (27) Columbia Tax-Managed Growth Fund II (Nasdaq: LTGAX,
         LTIIX, LTGCX, LTGZX)

    (28) Columbia Tax-Managed Value Fund (Nasdaq: SRVAX, CTMVX,
         LTVCX, LTMZX)

    (29) Columbia Technology Fund (Nasdaq: CTCAX, CTCBX, CTHCX,
         CTCDX, CMTFX)

    (30) Columbia Thermostat Fund (Nasdaq: CTFAX, CTFBX, CTFDX,
         COTZX)

    (31) Columbia Utilities Fund (Nasdaq: CUTLX, CUTBX, CUTFX,
         LUFZX)

    (32) Columbia Young Investor Fund (Nasdaq: LYIAX, LYIBX,
         LYICX, SRYIX)

    (33) Columbia Acorn International Fund (Nasdaq: LAIAX,
         LIABX, LAICX, ACINX)

    (34) Columbia Acorn International Select Fund (Nasdaq:
         LAFAX, LFFBX, LFFCX, ACFFX)

    (35) Columbia Europe Fund (Nasdaq: NEUAX, LNEBX, LNECX,
         LNEZX)

    (36) Columbia European Thematic Equity Fund (Nasdaq: LSREX)

    (37) Columbia Global Equity Fund (Nasdaq: CGUAX, CGUBX,
         CGUCX)

    (38) Columbia Global Thematic Equity Fund (Nasdaq: LSRGX)

    (39) Columbia International Equity Fund (Nasdaq: LIEAX,
         LIEBX, LIECX, GBIEX, GAIEX, GIETX)

    (40) Columbia International Stock Fund (Nasdaq: CISAX,
         CISBX, CSKCX, CISDX, CMISX)

    (41) Columbia Newport Asia Pacific Fund (Nasdaq: NWAPX,
         LNABX, LNACX, LAPSX)

    (42) Columbia Newport Japan Opportunities Fund (Nasdaq:
         NJOAX, NJOBX, NJOCX, LNJZX)

    (43) Columbia Newport Greater China Fund (Nasdaq: NGCAX,
         NGCBX, NGCCX, LNGZX)

    (44) Columbia Newport Tiger Fund (Nasdaq: CNTAX, CNTBX,
         CNTDX, CNTTX, CNTZX)

    (45) Columbia Contrarian Income Fund (Nasdaq: CHINX, LCIBX,
         LCICX, LCIZX)

    (46) Columbia Corporate Bond Fund (Nasdaq: LBCAX, LBCBX,
         LBCCX, GCBTX)

    (47) Columbia Daily Income Company Fund (Nasdaq: CDIXX)

    (48) Columbia Federal Securities Fund (Nasdaq: CFSAX, CFSOX,
         CFSCX, LFSZX)

    (49) Columbia Fixed Income Securities Fund (Nasdaq: CFIAX,
         CFIBX, CISCX, CFIDX, CFISX)

    (50) Columbia Floating Rate Advantage Fund (Nasdaq: XSFRX,
         XSFBX, XLACX, XLAZX)

    (51) Columbia Floating Rate Fund (Nasdaq: XLFAX, XLSBX,
         XLFCX, XLFZX)

    (52) Columbia High Yield Fund (Nasdaq: CHGAX, CHGBX, CHDCX,
         CHGDX, CMHYX)

    (53) Columbia High Yield Opportunity Fund (Nasdaq: COLHX,
         COHBX, CHYCX,LHYZX)

    (54) Columbia Income Fund (Nasdaq: LIIAX, CIOBX, CIOCX,
         SRINX)

    (55) Columbia Intermediate Bond Fund (Nasdaq: LIBAX, LIBBX,
         LIBCX, SRBFX)

    (56) Columbia Intermediate Government Income Fund
          (Nasdaq:LIGAX,LIGBX,LIGCX,GGIBX,GALBX,GIBTX)

     (57) Columbia Money Market Fund (Nasdaq: CMMXX, CMBXX,
          CMCXX, LMZXX)

     (58) Columbia Quality Plus Bond Fund (Nasdaq: LQPAX, LQPBX,
          LQPCX, GBHQX, GAHQX, GHQTX)

     (59) Columbia Short Term Bond Fund (Nasdaq: CTBAX, CTBBX,
          CSHCX, CTBDX, CTBGX, CTBTX,CUGGX)

     (60) Columbia Strategic Income Fund (Nasdaq: COSIX, CLSBX,
          CLSCX, LSIZX)

     (61) Columbia US Treasury Index Fund (Nasdaq: LUTAX, LUBX,
          LUTCX, IUTIX)

     (62) Columbia California Tax-Exempt Fund (Nasdaq: CLMPX,
          CCABX, CCAOX)

     (63) Columbia Connecticut Intermediate Municipal Bond
          (Nasdaq:LCTAX,LCTBX,LCTCX,GCBBX,GCBAX,SCTEX)

     (64) Columbia Connecticut Tax-Exempt Fund (Nasdaq: COCTC,
          CCTBX, CCTCX)

     (65) Columbia Florida Intermediate Municipal Bond Fund
          (Nasdaq: LFIAX,LFIBX, LFICX, SFTEX)

     (66) Columbia High Yield Municipal Fund (Nasdaq: LHIAX,
          CHMBX, CHMCX,SRHMX)

     (67) Columbia Intermediate Tax-Exempt Bond Fund (Nasdaq:
          LITAX, LITBX, LITCX, GIMBX, GIMAX, SETMX)

     (68) Columbia Managed Municipals Fund (Nasdaq: LMMAX,
          LMMBX, LMMCX, SRMMX)

     (69) Columbia Massachusetts Intermediate Municipal Bond
          Fund (Nasdaq:LMIAX,LMIBX,LMICX,GMBBX,GMBAX,SEMAX)

     (70) Columbia Massachusetts Tax-Exempt Fund (Nasdaq: COMAX,
          CMABX, COMCX)

     (71) Columbia Municipal Money Market Fund (Nasdaq: CXMXX,
          CMNXX, CMXXX, CMZXX)

     (72) Columbia National Municipal Bond Fund (Nasdaq: CNLAX,
          CNLBX, CNBCX, CNLDX, CLNMX)

     (73) Columbia New Jersey Intermediate Municipal Bond Fund
          (Nasdaq:LNIAX,LNIBX,LNICX,GNJBX,GNJAX,GNJTX)

     (74) Columbia New York Intermediate Municipal Bond Fund
          (Nasdaq:LNYAX,LNYBX,LYNCX,GBNYX,GANYX,GNYTX)

     (75) Columbia New York Tax-Exempt Fund (Nasdaq: COLNX,
          CYNBX, CNYCX)

     (76) Columbia Oregon Municipal Bond Fund (Nasdaq: COEAX,
          COEBX, CORCX, COEDX, CMBFX)

     (77) Columbia Pennsylvania Intermediate Municipal Bond Fund
          (Nasdaq: LPIAX, LPIBX, LPICX, GTPAX)

     (78) Columbia Rhode Island Intermediate Municipal Bond Fund
          (Nasdaq:LRIAX,LRIBX,LRICX,GRBBX,GRBAX,GRITX)

     (79) Columbia Tax-Exempt Fund (Nasdaq: COLTX, CTEBX, COLCX)

     (80) Columbia Tax-Exempt Insured Fund (Nasdaq: CEXIX,
          CEIBX, CEINX)

The complaint charges Columbia Management Group, Inc., Columbia
Management Advisors, Inc., Columbia Wanger Asset Management,
L.P., the Columbia Funds, and the Doe Defendants with violations
of the Securities Act of 1933, the Securities Exchange Act of
1934, the Investment Company Act of 1940, and for common law
breach of fiduciary duties. The Complaint alleges that during
the Class Period the defendants engaged in illegal and improper
trading practices, in concert with certain institutional
traders, which caused financial injury to the shareholders of
the Columbia Funds. According to the Complaint, the defendants
surreptitiously permitted certain favored investors, including
the Doe Defendants, to illegally engage in "timing" of the
Columbia Funds whereby these favored investors were permitted to
conduct short-term, "in and out" trading of mutual fund shares,
despite explicit restrictions on such activity in the Columbia
Funds' prospectuses.

For more information, contact Tzivia Brody, by Mail: 6 East 45th
Street, New York, NY 10017, by Phone: 1-800-337-4983 (toll
free), or by E-mail: SSBNY@aol.com.


EDWARD D. JONES: Chitwood & Harley Files Securities Suit in MO
--------------------------------------------------------------
Chitwood & Harley, LLP initiated a class action lawsuit in the
United States District Court for the Eastern District of
Missouri, on behalf of all individuals or entities who purchased
shares of the following mutual fund families through Edward D.
Jones & Co., L.P. between January 25, 1999 and January 9, 2004,
inclusive: Lord Abbett Funds, American Funds, Federated Funds,
Goldman Sachs Funds, Hartford Mutual Funds, Putnam Funds, and
Van Kampen Funds, against defendants Edward D. Jones & Co., L.P.
and:

     (1) John W. Bachmann,

     (2) Douglas E. Hill,

     (3) Michael R. Holmes,

     (4) Richie L. Malone,

     (5) Steven Novik,

     (6) Darryl L. Pope, and

     (7) Robert Virgil, Jr.

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 during the Class Period. The
Complaint alleges that throughout the Class Period, Edward Jones
recommended and sold to its clients shares or units of the
Preferred Funds. The Complaint alleges that although Edward
Jones represented that its recommendations were based on sound
financial analysis of the performance of the Preferred Funds,
when in fact, Edward Jones was recommending the Preferred Funds
because it was receiving valuable incentive payments-reported at
more than $100 million per year-from the Preferred Funds and/or
its affiliates. Thus, the Complaint alleges, Edward Jones'
statements were materially false and misleading because
defendants failed to disclose and/or misrepresented that Edward
Jones did not actually consider its clients' "unique financial
objectives" in tailoring investment strategies related to the
Preferred Funds. On January 9, 2004, the Wall Street Journal
revealed the extent of Edward Jones' scheme.

For more information, contact Cleo Anderson, by Mail: 1230
Peachtree Street, Suite 2300, Atlanta, Georgia 30309, or by
Phone: 1-888-873-3999 (toll-free).


ITT EDUCATIONAL SERVICES: Chitwood & Harley Files IN Stock Suit
---------------------------------------------------------------
Chitwood & Harley initiated a class action lawsuit in the United
States District Court for the Southern District of Indiana
against ITT Educational Services Inc., on behalf of a class
consisting of purchasers of the publicly traded securities of
ITT between April 17, 2003 and February 24, 2004, 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 during the Class Period. The
Complaint alleges that the defendants Class Period statements
were materially false and misleading because the Company failed
to disclose and/or misrepresented:

     1) that the Company falsified vital statistics submitted to
        the federal government in support of its eligibility
        under Title IV of the Higher Education Act of 1965;

     2) that the Company derived a material portion of its
        revenue from federal grants and financial aid payments
        secured through false information submitted to the
        government; and

     3) that the Company's reported financial results were not
        prepared in accordance with Generally Accepted
        Accounting Principles and did not fairly present the
        Company's financial condition and results of operations.

On February 24, 2004, ITT shocked the market by announcing that
it had been served with a search warrant and related grand jury
subpoenas. The Company reported that the search warrant and
subpoenas relate to information and documentation concerning
placement, retention, graduation and attendance figures, as well
as recruitment and admissions materials, student grades,
graduate salaries and transferability of credits to other
institutions. Trading in ITT stock was halted for about two
hours pending release of this news. After trading resumed, the
market reacted swiftly to the news in the following days,
pushing the price of ITT stock down nearly 35% to close at
$37.26 on February 26, 2004 on extremely heavy trading volume.

For more information, contact Cleo Anderson, by Mail: 1230
Peachtree Street, Suite 2300, Atlanta, Georgia 30309, or by
Phone: 1-888-873-3999 (toll-free).


ITT EDUCATIONAL SERVICES: Cohen Milstein Files Stock Suit in DC
----------------------------------------------------------------
Cohen, Milstein, Hausfeld & Toll, P.L.L.C. initiated a class
action lawsuit in the United States District Court for the
District of Columbia, on behalf of purchasers of the securities
of ITT Educational Services, Inc. between April 17, 2003 and
February 24, 2004, inclusive.

The complaint charges that ITT Educational, Rene R. Champagne,
Omer E. Waddles and Kevin M. Modany violated Sections 10(b) and
20(a) of the Securities Exchange Act, and Rule 10b-5 promulgated
thereunder, by issuing a series of materially false and
misleading statements to regarding ITT Educational's financial
performance that acted to artificially inflate the price of the
Company's stock. The complaint alleges that during the Class
Period, defendants' representations concerning the Company's
financial performance, made in the Company's public filings and
press releases, were materially false and misleading by failing
to disclose, inter alia:

     (1) that the Company systematically falsified records
         relating to enrollment, graduation and job placement
         rates;

     (2) a material portion of the Company's reported revenues
         were derived through fraudulent business practices;

     (3) the Company's reported results did not accurately
         portray the Company's operations because a material
         portion of those results were attributable to
         prohibited practices; and

     (4) that the Company's results were not prepared and
         reported in accordance with GAAP and did not fairly
         present its actual financial results or condition.

On February 25, 2004, before the market opened, the Company
issued a press release announcing that it had been served with a
search warrant and related grand jury subpoenas at its corporate
headquarters and several of its schools. In reaction to this
announcement, the price of ITT Educational common stock
plummeted, falling 33%, or $18.90 per share, on extremely heavy
trading volume.

For more information, contact Steven J. Toll or Katrina Jurgill,
By Mail: 1100 New York Avenue, N.W., West Tower - Suite 500,
Washington, D.C. 20005, by Phone: 888-240-0775 or 202-408-4600,
or by E-mail: stoll@cmht.com or kjurgill@cmht.com.


SPX CORPORATION: Brodsky & Smith Launches Securities Suit in NC
---------------------------------------------------------------
Brodsky & Smith, LLC initiated a securities class action lawsuit
in the United States District Court for the Western District of
North Carolina, on behalf of shareholders who purchased the
common stock and other securities of SPX corporation, between
July 28, 2003 and February 26, 2004 inclusive.

The class action lawsuit was filed Throughout the Class Period,
defendants issued public statements assuring investors that SPX
was on track to meet its earnings per share projections, when in
fact, defendants knew the Company's financial growth had
materially declined. On February 27, 2004 defendants filed the
2003 Form 10-K with the SEC, revealing the true financial
condition of SPX, and that the Company was able to meet its EPS
projections through inclusion of a one-time gain. SPX stock
plummeted 21%, on usually high trading volume of 16 million
shares, from its February 26, 2004 close of $53.30 per share to
a close of $42.00 on February 27, 2004.

For more information, contact Marc L. Ackerman or Evan J. Smith,
by Phone: (877)-LEGAL-90 (toll free), or by E-mail:
clients@brodsky-smith.com.


SPX CORPORATION: Brian Felgoise Files Securities Suit in W.D. NC
----------------------------------------------------------------
Brian M. Felgoise, P.C. initiated a securities class action
in the United States District Court for the Western District of
North Carolina, on behalf of shareholders who acquired SPX
Corporation securities between July 28, 2003 and February 26,
2004, inclusive, 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 information, contact Brian M. Felgoise, by Mail: 261
Old York Road, Suite 423, Jenkintown, Pennsylvania, 19046, by
Phone: (215) 886-1900, or by E-mail:
securitiesfraud@comcast.net.


                            *********


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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Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland
USA.  Roberto Amor, Aurora Fatima Antonio and Lyndsey Resnick,
Editors.

Copyright 2004.  All rights reserved.  ISSN 1525-2272.

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