Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, April 2, 1994                   TAG: 9404050126
SECTION: BUSINESS                    PAGE: A-6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

IN BUSINESS

WESTWOOD, Kan. - The Sprint Corp. has agreed to pay $28.5 million to settle a shareholders' class-action lawsuit stemming from the company's poor financial results for the second quarter of 1990.

Sprint said the company did not admit any improper actions, but "settled the case to avoid the costs and uncertainties of further litigation and the disruption of business activities that would result from a trial." The settlement still faces U.S. District Court approval in Kansas City, Kan. It is not clear how many shareholders will benefit.

Sprint said the settlement did not have a significant impact on the company's 1993 results.

The complaint originally was filed in 1990. The lawsuit stems from the company's announcement that second-quarter 1990 earnings fell more than 55 percent from the previous year. After the disclosure, shares of United Telecommunications Inc. (now known as Sprint) stock tumbled $8.75 a share to $29.50 on the New York Stock Exchange.

- Kansas City Star

Mortgage claims good in state taxes

The Virginia Department of Taxation said Friday that taxpayers who are eligible to claim retroactive deduction of mortgage discount points under an Internal Revenue Service ruling this week also can deduct them on state tax returns.

The points, the IRS said, can be deducted for 1991 and 1992 as well as current returns for 1993 income. Taxpayers with questions are asked to call (804) 367-8031.

- Associated Press