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result, the local business community, including the customers and
the suppliers of the Company and the financial institutions that
dealt with it, as well as the Company’s employees, became aware
of that litigation and concerned about its impact on them. The
litigation among the children resulted in total legal fees for
the parties in that litigation of between $2 million and $3
million.
Throughout the course of the litigation among the children,
the children had certain concerns regarding Mr. Stone’s assets
and Ms. Stone’s assets (the children’s concerns regarding Mr.
Stone’s and Ms. Stone’s assets), which presented potential
grounds for additional litigation among the children. The
children’s concerns regarding Mr. Stone’s and Ms. Stone’s assets
included concerns relating to (1) the management of those assets
(a) during their parents’ lives, which became a very serious
concern at least as early as the last six months of 1995 when
their parents no longer were interested or actively involved in
managing such assets, and (b) after their parents died;
(2) certain charitable gifts that Mr. Stone had made, including a
gift to Furman University in December 1994 for the design and
6(...continued)
children, had filed the petition instituting that litigation,
disagreed on certain matters, as is evidenced by the fact that at
a time not disclosed by the record Ms. Morris, but not Ms.
Fraser, sought to settle that litigation as it pertained to Ms.
Morris and her children.
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