(CORRECTED)-CRAZY EDDIE <CRZY.O> SETS RIGHTS Crazy Eddie Inc said its board has adopted a defensive shareholder rights plan and said it has reacived inquiries on a friendly merger. It said under the plan, shareholders of record as of April 21 will receive a right to purchase under certain circumstances at a price of 42 dlrs 0.01 preferred share for each common share held. The rights expire April 9, 1997. The company said the rights would be exercisable 20 business days after a party were to acquire 20 pct or more of Crazy Eddie common stock or announce a bid for 30 pct or more. Adds dropped year of rights expiration.