According to the firm's 10-K dated 1/13/2000, on April 16, 1999, preliminary approval of a settlement agreement in connection with this lawsuit and others was granted by the United States District Court for the Northern District of California. On May 24, 1999, the settlement was granted final approval by the United States District Court for the Northern District of California and the California action was dismissed with prejudice.

According to a Press Release dated May 21, 1997, the complaint alleges that the defendants violated federal securities regulations by sending a proxy solicitation to the limited partners without filing it with the Securities and Exchange Commission, by mailing out the solicitation without filing or disseminating a proxy statement, and by failing to disclose numerous material facts in the solicitation.

The complaint seeks an injunction to remedy the alleged violations of securities regulations and a declaratory judgment stating that the defendants violated securities regulations. The complaint does not seek damages.