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            U.S. Securities and Exchange Commission 

Litigation Release No. 15236 / January 30, 1997

SECURITIES AND EXCHANGE COMMISSION v. EDWARD A. CANTOR, MICHAEL
LEVINE AND DAVID P. SCHWARTZ, 94 Civ. 8079 (JGK)

     NEW YORK --  The Commission announced today that on January
27, 1997, the United States District Court for the Southern
District of New York entered the Final Judgment against defendant
Michael Levine in this insider trading action.  Levine, a 48 year
old resident of Weston, Connecticut, and the owner of MDM Copying
Services, Inc., an office supply business located in New York,
New York, violated the tender offer antifraud provisions of the
federal securities laws by purchasing DeSoto, Inc. ( DeSoto )
stock.  Levine purchased nearly $450,000 of this stock on
November 9, 1989, the day that Sutton Holding Corp. announced its
intention to commence a $50 per share tender offer for DeSoto. 
He sold those shares the next day for a profit of $73,724.21. 

     The Final Judgment provides that the disgorgement
($73,724.21) and prejudgment interest ($63,855.87) to be paid by
defendant Levine will be held by the Court for the benefit of
persons who submit valid claims within one year after the date of
entry of the Final Judgment.  The Commission intends to petition
the Court to appoint a special claims master to develop a
distribution plan.  

     For further information see Litigation Release Nos. 14329
(Nov. 9, 1994); 14678 (Oct. 4, 1995); 14769 (Dec. 29, 1995);
14997 (Aug. 1, 1996); and 15188 (Dec. 16, 1996).