Four disgruntled stockholders filed a class-action lawsuit...
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Four disgruntled stockholders filed a class-action lawsuit against Culver City-based Lorimar Telepictures Corp., alleging that the company overstated its income and net worth, causing investors to pay more for stock. The federal suit also states that Lorimar misled investors to believe that problems in the company’s videocassette division were cleared up and would cause no further financial problems. The plaintiffs, all from Westchester, N.Y., are identified as Ted Streit, Eli Berman, Shirley Sichel, and Louis Haber. Lorimar spokesman Sue Binford said there would be no comment because company officials have not yet seen the suit.
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