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BRIEFLY

October 07, 1987

Occidental Petroleum said it has agreed to pay up to $6 million to settle three class-action lawsuits by shareholders who claimed that the firm concealed information that adversely affected the value of their stock. Tom Lambert, Occidental's attorney, said he and attorneys for the other plaintiffs in the lawsuits signed a settlement agreement in federal court. If approved by U.S. District Judge William Gray on Dec. 14, the settlement will pay between 7 cents and 21 cents per share to stockholders who bought stock between March 31, 1977, and Nov. 29, 1978, and who still owned the stock on the last day of that period, Lambert said.

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