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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 14661 / September 29, 1995 

SECURITIES AND EXCHANGE COMMISSION v. ROBERT J. YOUNG, WILLIAM
DOUGLAS MORGAN, RUSSELL LOZIS AND BETH LOMBARDO, 3:95 cv 2106 
(AHN) (D. CONN.)
  
     New York, New York -- The Commission announced that it filed
a Complaint today alleging violations of the federal securities
laws arising out of the purchase by four individuals of
MedImmune, Inc. ("MedImmune") stock while in possession of
material, nonpublic information concerning a proposed
collaboration agreement between MedImmune and Merck, Inc. to
develop an immunotherapy and vaccine for the AIDS virus using
MedImmune's monoclonal antibody technology (the "Collaboration
Agreement").

Named in the Complaint were:

Robert J. Young, age 46, who resides in Old Saybrook,
Connecticut.  He is the older brother of Dr. James Young, a ice
president of MedImmune in charge of MedImmune's research and
development program.

William Douglas Morgan, age 43, who resides in Wethersfield,
Connecticut.  He is a long time friend of Robert and James Young.

Russell Lozis, age 47, who resides in East Hampton, Connecticut. 
Lozis and Robert Young have been friends since they attended High
School together.  

Beth Lombardo, age 39, resides in East Hampton, Connecticut.  She
is also a longtime friend of Robert Young and the wife of Russell
Lozis. 

The Complaint alleges that:

Beginning in July 1991, Robert Young misappropriated material,
nonpublic information concerning the Collaboration Agreement from
his brother, Dr. James Young.  Robert Young purchased MedImmune
stock while in possession of such information and tipped his
friends Morgan and Lozis.  Lozis also passed the information to
Morgan, and, later, to Lombardo, his wife.  Lozis, Morgan and
Lombardo then purchased MedImmune stock, and told others.  Each
of the four defendants violated Section 10(b) of the Securities
Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 thereunder. 


In the Complaint, the Commission seeks a final judgment
permanently enjoining each of the defendants from future
violations of Section 10(b) of the Exchange Act and Rule 10b-5. 
In addition, the Commission seeks disgorgement, prejudgment
interest and civil penalties from each of the defendants.

Robert Young and Morgan, without admitting or denying the
allegations of the Complaint, have each consented to the entry of
a final judgment permanently enjoining them from future
violations of Section 10(b) of the Exchange Act and Rule 10b-5. 
Morgan has agreed to pay a total of $137,997.13, representing
$52,101.92 in disgorgement, $33,793.29 in prejudgment interest
and $52,101.92 in civil penalties.  Robert Young has agreed to
pay a total of $50,533.00, representing $35,841.00 in

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disgorgement and $14,712.00 in prejudgment interest; provided,
however, that such amount, and any civil penalty, are waived
based upon his demonstrated inability to pay. 

     The litigation is pending as to defendants Lozis and
Lombardo.