CAR_Public/990210.MBX             C L A S S   A C T I O N   R E P O R T E R
     
           Wednesday, February 10, 1999, Vol. 1, No. 4

                           Headlines

AMERICAN BANK: Finkelstein Thompson Files Complaint in New York
AMERICAN HOME: Judge Politan Dismisses Shareholder Suit
DEUTSCHE BANK: Warns that Holocaust Claims May Thwart Merger
DRESDNER BANK: Agrees to Join German Holocaust Fund
LOEWEN GROUP: Stull Stull Files Complaint in Pennsylvania

SERVICE CORPORATION: Berger & Montague File Suit in Texas
SERVICE CORPORATION: Lowey Dannenberg Files Complaint in Texas
SERVICE CORPORATION: Spector & Roseman File Complaint in Texas
THERAGENICS CORP.: Spector & Roseman Files Complaint in Georgia
TOBACCO LITIGATION: British Court Rules Tobacco Suit Too Late

TURBODYNE TECHNOLOGIES: Shalov Stone Files Suit in [New York]
WABASH NATIONAL: Berman DeValerio Files Suit in Indiana
ZILA, INC.: Stull Stull Files Complaint in Arizona
ZILA, INC.: Wolf Haldenstein Files Complaint

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AMERICAN BANK: Finkelstein Thompson Files Complaint in New York
---------------------------------------------------------------
Finkelstein, Thompson & Loughran announced that, on February 8,
1999, it filed a Class Action Complaint in the United States
District Court for the Southern District of New York, alleging
violations of  the Securities Act of 1933 and the Securities
Exchange  Act of 1934 damaging persons who purchased the common
stock of American Bank Note Holographics, Inc. between July 14,
1998 and January 18, 1999, inclusive.

The Complaint names ABH and certain of the Company's officers and
directors as defendants, alleging that these parties violated
Sections 11 and 15 of the Securities Act and Sections 10(b) and
20(a) of the Exchange Act, as well as SEC Rule 10b-5 promulgated
thereunder, by originating a series of materially misleading
statements and omissions concerning the Company's business
prospects and financial condition. Specifically, the Complaint
alleges that, throughout the Class Period, the defendants
repeatedly misrepresented the Company's revenues, income and
earnings per share.

On January 19, 1999, ABH announced that it had inappropriately
recognized revenue in the second and third quarters of 1998, and
had thus overstated the Company's revenues and profitability. The
Company further disclosed that the overstatements "may be
material, and will require restatement of the Company's financial
statements."  This announcement spurred a dramatic drop in ABH's
share prices.

Class members may, not later than 60 days after January 19, 1999,  
move the Court to serve as a lead plaintiff.


AMERICAN HOME: Judge Politan Dismisses Shareholder Suit
-------------------------------------------------------
A federal judge in Newark, New Jersey, has dismissed a
shareholder lawsuit charging that executives at American Home
Products benefited from inside information about problems with
two popular diet drugs that were later recalled.  The class-
action suit had alleged that AHP hid the troubles with Redux and  
Pondimin while the executives sold nearly $25 million in stock.

U.S. District Judge Nicholas H. Politan ruled Friday that he
could not sustain charges that AHP improperly withheld damaging
medical data before the September 1997 recall.  Politan noted
that AHP's stock rose after the problems were disclosed two
months earlier, and only fell after the recall was announced,
Politan said, according to a report circulated by the Associated
Press.

Shareholder lawyer Marian P. Rosner said Tuesday, in an interview
with the AP, that her team is studying the decision.  "We have
not decided yet, but in all likelihood we will appeal," she said.
American Home Products spokesman Lowell Weiner told the AP, "We
certainly agree with the decision, and we're pleased with it."

The shareholders contended that the company should have informed
investors after learning in February 1994 of heart valve problems
in 25 European patients taking Redux.  AHP also should have
disclosed that the Mayo Clinic told the company in March 1997
about heart valve problems with five patients taking similar
drugs, the lawsuit said.  Politan ruled that the company did not
mislead investors by not disclosing that information before July
1997, noting that medical authorities had said the findings
raised questions but were inconclusive and required comprehensive  
study.

Thousands of personal injury suits are still pending against AHP,
alleging that the diet drugs caused heart valve damage.  Lawsuits
filed nationwide over Redux and similar drugs were consolidated
in December 1997 before U.S. District Judge Louis C. Bechtle in
Philadelphia.  A proposed $70 million settlement regarding Redux
and its developer, Interneuron Pharmaceuticals Inc. of Lexington,
Mass., is under consideration there.  A study released in April
1998 concluded that most of the 2 million Americans who took
Redux were probably not harmed by it.  Georgetown University  
researchers said they found no sign that the drug caused leaky
valves in those who took it for a couple of months.


DEUTSCHE BANK: Warns that Holocaust Claims May Thwart Merger
------------------------------------------------------------
>From Frankfurt, Reuters reports that Deutsche Bank AG warned
yesterday that its takeover of Bankers Trust could be thwarted if
it were delayed too long by Holocaust-related claims, as class
action lawyers dampened hopes of a quick resolution.

Deutsche Bank is one of many German companies facing class action
suits in the United States filed by Holocaust survivors, who
accuse them of profiting from slave labor or the Nazi
expropriation of Jewish assets.  Deutsche is facing new pressure
to make restitution to Nazi victims after disclosing last week
that it helped finance construction of the Auschwitz death
camp during World War II.

In an interview published by the Hamburg daily Bild, Rolf Breuer,
chairman of Deutsche Bank, was quoted as saying German businesses
are ready to compensate some Holocaust survivors forced into
slave labor by the Nazis through an industry-wide fund.  Market
watchers said Breuer's comments were intended more to put
pressure on U.S. authorities to approve the takeover of the U.S.
bank than to cast doubt on the deal going ahead.  "His comments
were designed to concentrate minds among those who need to be
got on side than to really question the strategic value of the
acquisition," Bryan Crossley, banking analyst at ABN Amro Hoare
Govett, told Reuters.

Germany has paid more than $60 billion in reparations to Nazi
victims, but has refused to honor wage claims by slave laborers,
who were technically working for private companies.  Most
companies refused to honor individual claims as well, arguing the
slave labor was forced on them by the Nazis.


DRESDNER BANK: Agrees to Join German Holocaust Fund
---------------------------------------------------
Dresdner Bank, following the lead of Deutsche Bank has agreed to
join a Holocaust fund that will be financed by German companies
and used to make reparations to Holocaust victims, a source close
to talks on the fund told Reuters Tuesday.  "Dresdner Bank has
agreed to participate in the fund," Reuters' source, who declined
to be named, said.  

A spokesman for the Frankfurt headquarters of the bank, the third
largest in Germany, declined to comment, saying "Dresdner won't
comment on ongoing negotiations."

The so-called umbrella fund, Reuters related, was proposed on
Monday after a meeting in Washington between Deutsche Bank's
chairman, Rolf Breuer, the World Jewish Congress and U.S. and
German government officials.  Dresdner, along with Germany's
largest bank, Deutsche Bank, faces billions of dollars of class-
action lawsuits brought in New York, and the umbrella fund aims
to settle those potential liabilities along with any other
Holocaust claims facing the banks and industrial companies.  The
Jewish group is one of the most influential players leading what
it sees as a battle to win moral and economic justice for victims
of the Nazi regime, from concentration camp survivors to slave
labourers.  Families that were forced to sell assets at fire sale
prices to German institutions while they were detained by the
Nazis also could receive compensation.


LOEWEN GROUP: Stull Stull Files Complaint in Pennsylvania
---------------------------------------------------------
The law firm of Stull, Stull & Brody, on February 8, 1999, filed
a securities class action lawsuit in the United States District
Court for the Eastern District of Pennsylvania against Loewen
Group Inc. (NYSE, TSE, ME: LWN) and certain of its offices on
behalf of all persons who purchased or otherwise acquired shares
of Loewen Group common stock at artificially inflated prices
between March 5, 1997 and January  14, 1999, inclusive.

The complaint alleges that defendants violated the federal
securities laws (Section 10(b) and 20(a) of the Securities
Exchange Act of 1934) by misrepresenting or failing to disclose
material information about Loewen Group's results of operations,
financial condition and weaknesses in its financial internal
controls regarding the Company's failure to successfully  
integrate companies acquired during the Class Period. As a result
of defendant's false and misleading statements and omissions, the
price of Loewen Group's stock was artificially inflated during
the Class Period, such that persons who purchased or otherwise
acquired common stock during the Class Period were damaged by
overpaying for the stock.

Class members, not later than 60 days from December 29, 1998, may
move the court to serve as a lead plaintiff.


SERVICE CORPORATION: Berger & Montague File Suit in Texas
---------------------------------------------------------
Service Corporation International (NYSE:SRV) and certain of its
officers and directors engaged in securities fraud, according to
a class action complaint filed in the United States District
Court  for the Southern District of Texas, Houston Division, by
Berger & Montague, P.C.

The lawsuit, filed on February 8, 1999, is brought on behalf of
former shareholders of Equity Corporation International (NYSE:
EQU), who acquired the shares of Service Corp. as a result of the
January 19, 1999, stock-for-stock merger, and on behalf of
persons who purchased or otherwise acquired Service Corp.
(NYSE:SRV) common stock during the period July 23, 1998, to
January 26, 1999, inclusive.

The Complaint alleges that defendants made false and misleading
statements during the Class Period.  Specifically, the Complaint
alleges that defendants misled the public with regard to the
effects of adverse trends, market conditions and demographics on
service Corp.'s business and operations.  The Complaint further
alleges that defendants' misleading positive statements
artificially inflated the price of Service Corp.'s common stock
during the Class Period.

On January 26, 1999, only six days after completing the merger
with Equity Corp., Service Corp. announced disappointing fourth
quarter and year-end 1998 financial results.  The market reacted
sharply to the announcement, with Service Corp. stock falling
$15.19, or 44% to $19.25 per share, after touching $18.38, the
lowest price in 3-1/2 years. Service Corp. common stock had
traded above $35 per share for much of the Class Period.

Class members may move the court to serve as a lead plaintiff on
or before 60 days from January 26, 1999.


SERVICE CORPORATION: Lowey Dannenberg Files Complaint in Texas
--------------------------------------------------------------
Lowey Dannenberg Bemporad & Selinger announced that, on February
5, 1999, it filed a class action lawsuit was filed in the United
States District Court for the Southern District of Texas, on
behalf of all persons who purchased or otherwise acquired the
common stock of Service Corp. International (NYSE:SRV) between
July 23, 1998 and January  26, 1999, inclusive.

The complaint charges Service Corp. and certain officers and
directors of the Company during the relevant time period with
violations the Securities Exchange Act of 1934 by, among other
things, issuing false and misleading statements concerning
Service Corp.'s business, performance, and continued substantial  
growth of Service Corp., its financial results and business
operations.  Plaintiff further alleges that, due to the issuance
of these false and misleading statements, the price of Service
Corp. common stock was artificially inflated during the Class
Period.

On January 26, 1999, the Company announced that fourth-quarter
and year-end revenues and earnings would drop dramatically below
anticipated results.  As a result, the stock price dropped from
$34-7/16 to close at $19 on extraordinarily high volume.

Any member of the proposed class may move the Court to serve as
lead plaintiff no later than March 26, 1999.


SERVICE CORPORATION: Spector & Roseman File Complaint in Texas
--------------------------------------------------------------
A class action lawsuit was filed in the United States District
Court for the Southern District of Texas on behalf of all
purchasers of Service Corp. International (NYSE:SRV) common stock
during the period of July 23, 1998 through Jan. 26, 1999 by the
law firm of Spector & Roseman, P.C.

The Complaint alleges that Service Corp. and certain officers and
directors of the Company during the Class Period violated
Sections 10 (b) and 20 (a) of the Securities Exchange Act of
1934. The Complaint charges that the defendants issued a series
of materially false and misleading statements concerning the  
Company's business, operations, and its prospects for future
profitability.

Because of the issuance of these false and misleading statements,
the price of Service Corp. common stock was artificially inflated
during the Class Period.  Prior to the disclosure of the adverse
facts on Jan. 26, 1999, Service Corp. sold $600 million worth of
notes and completed a merger with Equity Corporation
International using $576 million worth of Service Corp.'s
artificially inflated common stock.

Class members may, no later than sixty days from Jan. 26, 1999,
move the Court to serve as lead plaintiff of the Class.


THERAGENICS CORP.: Spector & Roseman Files Complaint in Georgia
---------------------------------------------------------------
A class action lawsuit was filed in the United States District
Court for the  Northern District of Georgia on behalf of all
purchasers of Theragenics Corp.(NYSE:TGX) common stock during the
period of January 29, 1998 through January 11, 1999, inclusive by
the law firm of Spector & Roseman, P.C.

The Complaint alleges that Theragenics and certain officers and
directors of the Company during the Class Period violated
Sections 10 (b) and 20 (a) of the Securities Exchange Act of
1934. The Complaint charges that the defendants issued a series
of materially false and misleading statements concerning the  
Company's business, operations, and its prospects for future
profitability.

Specifically, the complaint alleges that Theragenics issues
materially false and misleading statements relating to its
relationship with Indigo Medical and the sale of Theraseed(r).
Because of the issuance of these false and misleading statements,
the price of Theragenics common stock was artificially inflated  
during the Class Period. Prior to the disclosure of the true
facts, certain defendants sold thousands of share of Theragenics
stock realizing more than $2.7 million in proceeds.

Class members may, no later than March 16, 1999, move the Court
to serve as lead plaintiff of the Class.


TOBACCO LITIGATION: British Court Rules Tobacco Suit Too Late
-------------------------------------------------------------
>From Liverpool, England, the Associated Press reports that a High
Court judge ruled yesterday that eight cancer sufferers could not
sue two tobacco companies because too much time had elapsed since
their illness.  The eight were part of an original group of 52
planning Britain's first class-action lawsuit against tobacco
companies.  That suit against Gallaher Ltd. and Imperial Tobacco
Ltd. will go ahead, but only with 14 more recent cancer
sufferers.

Under English law, most personal injury claims have to be lodged
within three years, although a judge can use discretion to waive
the rule.  Attorney Brian Langstaff brought the eight test cases
to seek a judgment affecting 36 people whose cancer was diagnosed
more than three years ago.  One person had missed the time
limitation by 24 years.  Two of people in the group suit have
dropped out, which leaves 14 to proceed with compensation claims
against the firms in a trial due to take place next year.

The lung cancer sufferers had claimed at an earlier hearing at
the High Court in London that the eight suffered injury because
all the cigarettes with which they were supplied between the
1950s and 1970s contained far more tar than was reasonably safe
or appropriate.

After the judgment was handed down, Martyn Day and Irwin
Mitchell, lawyers for the plaintiffs, issued a joint statement.  
"Obviously many clients will be disappointed by today's
judgment," it said.  "We now have to consider this very carefully
to determine how next to proceed."

A spokesman for Gallaher welcomed the judgment.


TURBODYNE TECHNOLOGIES: Shalov Stone Files Suit in [New York]
-------------------------------------------------------------
The law firm of Shalov Stone & Bonner announced this week that a
class action was commenced on behalf of all persons who  
purchased the stock of Turbodyne Technologies, Inc. (Nasdaq:TRBD)
in the period from March 1, 1997 to January 22, 1999, inclusive.  
The lawsuit alleges that the defendants (Turbodyne and certain of
its executives) violated the federal securities laws by, among
other things, materially misrepresenting the Company's business
condition and failing to disclose material facts concerning  
its products.


WABASH NATIONAL: Berman DeValerio Files Suit in Indiana
-------------------------------------------------------
Wabash National Corp. (NYSE: WNC) was charged with overstating
its revenues and earnings in a shareholder class action filed in
the United States District Court for the Northern District of
Indiana.  The  case, which alleges violations of the federal
securities laws, was filed on  behalf of all persons and entities
who purchased the common stock of WNC from  April 20, 1998
through and including January 15, 1999 and  who suffered losses
on their investments.

According to the complaint, WNC issued materially overstated
financial results for its 1998 first, second and third fiscal
quarters.  On January 15, 1999, WNC announced that it would
restate those results so that they would be in conformity with
generally accepted accounting principles.


ZILA, INC.: Stull Stull Files Complaint in Arizona
--------------------------------------------------
The law firm of Stull, Stull & Brody filed a class action lawsuit
against Zila, Inc. (NASDAQ:  ZILA) and certain individuals
associated with the Company was commenced in the  United States
District Court, District of Arizona, on behalf of investors who  
purchased Zila shares during the period February 17, 1998 through
and including  January 12, 1999.

The Complaint alleges that the defendants violated the federal
securities laws (Sections 10(b) and 20(a) of the Securities
Exchange Act of 1934, as well as Rule 10b-5 promulgated
thereunder) by misrepresenting or failing to disclose material
information about Zila's product OraTest(R) and the status of the  
clinical trials during its efforts to obtain FDA approval to sell
OraTest(R) in the United States. The Company stated during the
Class Period, absent supporting data and in the face of
information obtained during the clinical trials to the contrary
(which the Company withheld from the market place), that it
expected to receive FDA approval to sell and market OraTest(R).
As was later revealed following the FDA's rejection of the
Company's application, the Company knew, but failed to disclose,
that the FDA would not approve OraTest(R) based on the Company's
insufficient and poorly analyzed data.  As a result of  
defendants' false and misleading statements and omissions
concerning OraTest(R), the price of Zila's stock was artificially
inflated during the Class Period.  At the end of the Class
Period, the FDA announced that it would not approve OraTest(R)
due to the serious flaws in the clinical studies and the
Company's failure to supply the FDA with data justifying
approval.  Following this announcement, the Company's common
stock plummeted.


ZILA, INC.: Wolf Haldenstein Files Complaint
--------------------------------------------
Wolf Haldenstein Adler Freeman & Herz LLP announces that it is
filing a class action lawsuit in the United States District Court
for the District of Arizona on behalf of all persons who
purchased common stock issued by Zila, Inc. (NYSE:ZILA) at
artificially inflated prices during the period February 17, 1998
through January 13, 1999 and who were damaged thereby.

The Complaint alleges that the defendants violated the federal
securities laws (Section 10(b) and 20(a) of the Securities
Exchange Act of 1934) by misrepresenting or failing to disclose
material information about Zila's product OraTest(R) and the
status of the clinical trials during its efforts to  obtain FDA
approval to sell OraTest(R) in the United States. The Company
stated during the Class Period, absent supporting data and in the
face of information obtained during the clinical trials to the
contrary (which the Company withheld from the market place), that
it expected to receive FDA approval to sell and  market
OraTest(R). As was later revealed following the FDA's rejection
of the  Company's application, the Company knew, but failed to
disclose, that the FDA  would not approve OraTest(R) premised on
the Company's insufficient and poorly  analyzed data. In fact,
following the FDA panel hearings, FDA Oncological Drugs  Advisory
Committee panel member David Johnson of Vanderbilt University
stated  that he "...cannot think of a credible scientific
organization that would accept this data."

As a result of defendants' false and misleading statements and
omissions concerning OraTest(R), the price of Zila's stock was
artificially inflated during the Class Period.  At the end of the
Class Period, the FDA panel stated that it would not recommend
approval of OraTest(R) due to the serious flaws in the underlying
studies and the Company's failure to supply the FDA with data  
justifying approval.  Accordingly, the Company's common stock
plummeted.

Class members may, not later than sixty days from January 25,
1999, move the court to serve as lead plaintiff of the class.


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

Class Action Reporter is a daily newsletter, co-published
by Bankruptcy Creditors' Service, Inc., Princeton, NJ, and Beard
Group, Inc., Washington, DC.  Peter A. Chapman, Editor.

Copyright 1999.  All rights reserved.  ISSN XXXX-XXXX.

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