CAESARS WORLD &lt;CAW> FILES SUIT AGAINST SOSNOFF

  Caesars World Inc said it filed a
  lawsuit against Martin T. Sosnoff and MTS Acquisition Corp
  regarding its March 9 unsolicited tender offer for Caesars
  World stock.
      The company said it filed in the Federal Court in the
  Central District of California, charging the tender offer,
  which its board rejected, violated federal securities laws and
  federal margin regulations.
      The suit charges the offering materials are materially
  false and misleading and misstate and conceal material
  information required to be disclosed to shareholders.
      The suit also charges the offer is illusory and designed to
  manipulate the market in Caesars World stock to enable Sosnoff
  to sell the Caesars World stock he already owns for a
  substantial profit.
      The complaint seeks, among other things, to enjoin the
  tender offer and to require MTS and Sosnoff to correct false
  and misleading statements in the offer.
      Caesars World is expected to seek a friendly suitor,
  restructure operations, or buy back Sosnoff's holdings in an
  attempt to fight off the bid.
      Sosnoff holds about 13.6 pct of the company's stock.
  

