U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.


LITIGATION RELEASE NO. 15741 /  May 15, 1998

Securities and Exchange Commission v. Mitchell Y. Sher, 98 Civ. 3469 (DLC)
(S.D. N.Y.)

The Securities and Exchange Commission today filed a complaint in the
United States District Court for the Southern District of New York against
Mitchell Y. Sher of Warren, New Jersey.  The Complaint alleges that he
engaged in insider trading in advance of public announcements concerning
the securities of four companies:  American Medical Response, Inc.;
Verifone, Inc.; Louisiana Land & Exploration Co.; and Georgia-Pacific Corp. 
According to the Complaint, Sher obtained material non-public information
involving the four companies from Marisa Baridis, a college friend and a
former employee of two Wall Street investment firms, Smith Barney, Inc. and
Morgan Stanley, Dean Witter, Discover & Co.  Simultaneous with the filing
of the Complaint, Sher consented, without admitting or denying the
Commission s allegations, to an order enjoining him from future violations
of Sections 10(b) and 14(e) of the Securities Exchange Act of 1934 and
Rules 10b-5 and 14e-3 thereunder, and requiring him to disgorge his illegal
trading profits of $145,399 plus prejudgment interest, and a one-time civil
penalty of $145,399.

The Complaint alleges that Sher began to receive tips that Baridis offered
him in or around December 1996, and the tips continued through September
1997.  The Complaint further alleges that Baridis was employed in the
investment firms  Control Group, which was responsible for monitoring
material, non-public information concerning the firms  clients, and that
she routinely had access to confidential information, including anticipated
dates when corporate transactions would be publicly announced.  Of Sher s
illegal trading profits of $145,399, he gave about $17,000 in cash to
Baridis.

On December 24, 1997, Sher pleaded guilty in U.S. District Court for the
Southern District of New York to a criminal information charging him with
one count of conspiracy to commit securities fraud in connection with his
insider trading.  Sher is scheduled to be sentenced today.  On December 3,
1997, Baridis pleaded guilty in U.S. District Court for the Southern
District of New York to one count of securities fraud and one count of
conspiracy to commit securities fraud. The Commission acknowledges the
assistance provided by the U.S. Attorney for the Southern District of New
York in this matter. 

The Commission s investigation is continuing as to other individuals.






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