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Vegas company settles litigation

Friday, Feb. 8, 2002 | 11:08 a.m.

Paul-Son Gaming Corp. and two senior executives said Wednesday they settled a lawsuit filed in 2000 by former executive Martin S. Winick.

The Las Vegas casino table game equipment maker said none of the parties admitted liability in the settlement and all parties entered into mutual releases.

Winick, a former president of Paul-Son subsidiary Authentic Products who claimed he was wrongfully stripped of 300,000 Paul-Son stock options, accused Paul-Son, Eric P. Endy, the trustee of the Paul S. Endy Jr. Living Trust, and Laurence Speiser, the company's legal counsel, of conspiring to strip him of his alleged "rightful compensation."

Winick, who alleged he was engaged in 1993 to help convert Paul-Son into a publicly-traded company, said Paul-Son's late chairman, Paul Endy, agreed in 1995 to award him the stock options over a three-year period for his consulting services.

Officials refused to disclose whether Winick received his options as part of the settlement.

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