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July 27, 1994|From Times Staff and Wire Reports

Judge Approves Settlement With Salomon: The $100-million accord came on a lawsuit by bond holders alleging that Salomon Bros. Inc. broke antitrust laws in a 1991 Treasury bond scandal. However, U.S. Dist. Judge Robert Patterson ruled that a quarter of the funds, or $25 million, will go to the attorneys who represent the bond holders in the litigation. He also approved another $3.5 million in attorneys' expenses. Although the fees seem high, Patterson said, the case is unique. He praised the attorneys, saying their negotiations may have saved Salomon, which was on the verge of bankruptcy. The firm did not admit or deny guilt.

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