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Article: Milken Distances Himself From Lawsuit Attacking TLC Beatrice

Article from:
The New York Beacon
Article date:
June 17, 1994
Author:
Copyright

Peter Alan Harper
New York Beacon, The
06-17-1994
Milken Distances Himself From Lawsuit Attacking TLC Beatrice.

Convicted junk bond Michael Milken sought to distance himself Friday 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 Delaware Chancery Court in Delaware, where TLC Beatrice is incorporated, seeking access to TLC Beatrice's books to determine the value of its 26 percent stake. The suit also claimed TLC Beatrice's management is wasting its resources.

Milken said in a statement that he played no role in the lawsuit, doesn't exercise control ...

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