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                SECURITIES AND EXCHANGE COMMISSION
                         WASHINGTON, D.C.

Litigation Release No. 15227 / January 28, 1997 

SECURITIES AND EXCHANGE COMMISSION V. CHARLES BRUMFIELD, JOSEPH
BRUMFIELD, ROBERT ALLEN, WILLIAM MYLETT, JOSEPH PENNA, JOSEPH
CUSIMANO, ALFRED VOLPE, JAMES GALANTE, THOMAS ALGER, JOHN
O'BRIEN, LAWRENCE FRIEDMAN, ROBERT FLANAGAN, THOMAS FLANAGAN,
SHARON SEIDEN, WARREN SMITH, JOHN LYNCH, AND ALBERT BRODY, United
States District Court for the Southern District of New York, Civ.
Action No. 95-9283 (JES).
 
     On January 24, 1997, the United States District Court for
the Southern District of New York entered a Final Judgment of
Permanent Injunction and Other Equitable Relief against Joseph
Cusimano for violations of the federal securities laws in
connection with his trading in the securities of three AT&T
acquisition targets -- NCR Corporation, Digital Microwave
Corporation and Teradata Corporation -- while in possession of
material, non-public information.  Admitting the allegations in
the Complaint as to jurisdiction and liability as to trades in
the securities of Digital and Teradata, and trades in the
securities of NCR on November 15, 16, and 20, 1990, but without
admitting or denying the remaining allegations, Cusimano
consented to the entry of an injunction permanently restraining
and enjoining him from violating Sections 10(b) and 14(e) of the
Exchange Act and Rules 10b-5 and 14e-3, disgorgement of his
profits of $963,341.35, plus prejudgment interest, and a civil
penalty.  

     The Commission's Complaint alleges that in 1990 and 1991,
Charles Brumfield, at the time a Vice President in AT&T's Human
Resources Department, learned about AT&T's then confidential
plans to acquire NCR Corporation, Digital, and Teradata. 
Brumfield, in breach of the duty he owed AT&T, told Joseph
Cusimano about AT&T's acquisition plans for each of these three
companies and arranged for Cusimano to purchase securities in
these companies on Brumfield's behalf.  Cusimano bought NCR,
Digital, and Teradata securities while in possession of this non-
public information for himself and for Brumfield.  Cusimano also
relayed the information about Digital and Teradata to Alfred
Volpe, who then traded in these companies' securities.  After
AT&T's public announcement of its tender offer for NCR stock on
December 2, 1990, Cusimano sold his NCR stock, realized a profit,
and paid Brumfield out of these profits.  After Brumfield learned
that AT&T had abandoned its planned acquisition of Digital,
Brumfield told Cusimano, who sold his Digital stock, realized a
profit, and paid Brumfield out of these profits.  After the
December 2, 1991, public announcement that Teradata and AT&T's
wholly owned subsidiary, NCR, had agreed to merge, Cusimano sold
his Teradata securities, realized a profit, and made a cash
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payment to Brumfield out of these profits.

     Cusimano earlier pled guilty in a related criminal case to
one count of conspiracy and was sentenced to 21 months of
imprisonment, 3 years supervised release, and a $1 million fine. 
Cusimano has appealed the criminal matter.  Cusimano's payment of
his criminal fine will satisfy his civil penalty as well.

     Litigation with respect to the remaining defendants in the
SEC's civil case is continuing.

Related Releases:   L.R. 14706, L.R. 14779, L.R. 14956, L.R.
                    15180, L.R. 15221