Word: crash
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Dates: during 1980-1989
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...that could set an ominous precedent. A six-member federal jury in New York City found that the Hunts conspired to corner the silver market, and held them liable to pay $63 million in damages to Minpeco, a Peruvian mineral-marketing company that suffered heavy losses in the silver crash. Under federal antitrust law, the penalty is automatically tripled to $189 million, but after subtractions for previous settlements with Minpeco, the total value of the judgment against the Hunts is $134 million...
...verdict in the six-month trial may darken the Hunts' prospects in a slew of other silver-crash lawsuits, which had been put on hold pending the outcome of the Minpeco case. Two class actions filed by some 17,000 investors now await hearings before the U.S. district judge who presided over last week's verdict, Morris Lasker. The Hunt family's advisers believe that no domino effect will occur, since the other lawsuits differ in some respects from the Minpeco case. But that may be wishful thinking. Says a Government official: "The Hunts may appeal and fight...
...Pakistani air force crash investigation team flew to the scene today in search of the plane's flight recorder. A similar U.S. team was also expected, but details of its visit were not disclosed...
Heavy security surrounded the crash site which was covered with tufts of weeds and stagnant pools. The site is about eight miles north-west of the airport and 330 miles south of Islamabad...
...official in Washington, speaking on condition of anonymity, said the United States will help Pakistan investigate the crash. "There is no confirmation of any foul play, but we are not taking anything for granted," the U.S. official said. "An incident like this arouses suspicion...