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Thursday, July 24, 2003

Tristate summary



From wire reports

Mosler suit back to Butler court

A lawsuit by shareholders and former employees accusing a now-defunct Hamilton security company of mismanagement is headed back to state courts after a two-year dispute over the proper venue.

The 6th U.S. Circuit Court of Appeals Wednesday agreed with plaintiffs that the lawsuit belongs in Butler County Common Pleas Court in Hamilton, where it was first filed in May 2001.

The shareholders and former employees accuse Mosler Inc. and its directors of mismanagement that diminished the value of the company's stock, used in part to fund employee retirement plans. It accuses the defendants of breaching their fiduciary duty to shareholders and workers.

The plaintiffs filed suit about three months before Mosler, a producer of safes and electronic security systems, went into bankruptcy and shut down.

Hoover to recall 115 employees

Vacuum maker Hoover Co. said Tuesday that it will recall 115 employees from layoff.

Last month, Hoover announced about 500 production worker layoffs in North Canton, Ohio, because of declining sales. The company also has plants in El Paso and Juarez, Mexico.

The notice came while the company was on summer shutdown, said Jim Repace, president of the union that represents about 1,800 production workers.

The recalled employees will focus on production of deep-cleaning SteamVac, said Repace, president of the International Brotherhood of Electrical Workers Local 1985.

Maytag Corp., owner of the Hoover brand, would not provide details. Last week, Maytag chief executive office Ralph Hake said Hoover sales are off about 20 percent from last year.



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