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BRIEFLY

ComputerLand's bond was reduced to $25 million.

August 24, 1985

A California appeals court cut the bond required from $283 million and refused to remove ComputerLand's founder, William Millard, while he fights a jury verdict awarding an investment group 20% of his stock. An Alameda County Superior Court jury has awarded more than $141 million in damages, plus stock valued at $200 million to $400 million, to a group of investors who had bought the rights to a $250,000 loan taken out by Millard in 1976 to finance a fledgling computer company. The jury ruled that a note on the loan gave the holder the right to convert the debt into stock.

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