OTHER NEWS - June 4, 1994

Milken Distances Himself From Lawsuit: Junk bond felon Michael Milken sought to distance himself from an investment firm he founded that is suing the nation’s largest black-owned business, TLC Beatrice International Holdings Inc. The Carlton Investments partnership filed suit Wednesday in Chancery Court in Delaware, where TLC Beatrice is incorporated, seeking access to TLC Beatrice’s books to determine the value of its 26% stake. The suit also claimed TLC Beatrice’s management is wasting its resources. Milken said in a statement that he is playing no role in the lawsuit, doesn’t exercise control over Carlton and has been trying for several weeks to divest his interest in the group.