An FNN group settled its lawsuit against UPI.
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A Financial News Network investor group and Biotech Capital Corp. said it settled a 4-month-old lawsuit against the wire service and its buyer, Mexican newspaper publisher Mario Vazquez-Rana, filed after the FNN group lost out in bidding for the company. Under the agreement, UPI will transfer to FNN a 40% stake in Comtex Scientific, the firm that markets UPI’s electronic database. At current stock market prices, the stake is worth about $3.9 million.
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