-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VYiVraT3VzjlGu2xHTu5P8d7w99c8ln/MdpDaUckwr5poiJe+VCku49xqKTMymdY ZwQP44lmgCU6wSYN87wwuA== 0000899140-06-000311.txt : 20060221 0000899140-06-000311.hdr.sgml : 20060220 20060221162614 ACCESSION NUMBER: 0000899140-06-000311 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060221 DATE AS OF CHANGE: 20060221 GROUP MEMBERS: DANIEL S. LOEB SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SFBC INTERNATIONAL INC CENTRAL INDEX KEY: 0001089542 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731] IRS NUMBER: 592407464 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-61063 FILM NUMBER: 06633270 BUSINESS ADDRESS: STREET 1: 504 CARNEGIE CENTER CITY: PRINCETON STATE: NJ ZIP: 08540-6242 BUSINESS PHONE: 609-951-6800 MAIL ADDRESS: STREET 1: 504 CARNEGIE CENTER CITY: PRINCETON STATE: NJ ZIP: 08540-6242 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Third Point LLC CENTRAL INDEX KEY: 0001040273 IRS NUMBER: 133922602 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 390 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2122247400 MAIL ADDRESS: STREET 1: 390 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: THIRD POINT MANAGEMENT CO LLC DATE OF NAME CHANGE: 19970602 SC 13D/A 1 t3155960b.txt AMENDMENT NO. 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Amendment No. 1) Under the Securities Exchange Act of 1934* SFBC International, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $0.001 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 784121105 - -------------------------------------------------------------------------------- (CUSIP Number of Class of Securities) Daniel S. Loeb Third Point LLC 390 Park Avenue New York, NY 10022 (212) 224-7400 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) Copies to: Michael A. Schwartz, Esq. Willkie Farr & Gallagher LLP 787 Seventh Avenue New York, NY 10019-6099 (212) 728-8000 February 21, 2006 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Schedule) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box: [ ] NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 240.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). SCHEDULE 13D - ------------------------ ----------------- CUSIP No. 784121105 Page 2 of 6 Pages - ------------------------ ----------------- - ----------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Daniel S. Loeb - ----------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ----------- -------------------------------------------------------------------- 3 SEC USE ONLY - ----------- -------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - ----------- -------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ----------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - --------------------- --------- ------------------------------------------------ 7 SOLE VOTING POWER 0 --------- ------------------------------------------------ NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 638,400 OWNED BY --------- ------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON WITH 0 --------- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 638,400 - ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 638,400 - ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.5% - ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - ----------- -------------------------------------------------------------------- SCHEDULE 13D - ------------------------ ----------------- CUSIP No. 784121105 Page 3 of 6 Pages - ------------------------ ----------------- - ----------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Third Point LLC I.D. #13-3922602 - ----------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ----------- -------------------------------------------------------------------- 3 SEC USE ONLY - ----------- -------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - ----------- -------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ----------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------- --------- ------------------------------------------------ 7 SOLE VOTING POWER 0 --------- ------------------------------------------------ NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 638,400 OWNED BY --------- ------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON WITH 0 --------- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 638,400 - ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 638,400 - ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.5% - ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - ----------- -------------------------------------------------------------------- This Amendment No. 1 (the "Amendment") amends the Schedule 13D filed on February 21, 2005 (the "Original 13D," and collectively with this Amendment No. 1, the "Schedule 13D") and is being filed on behalf of Third Point LLC, a Delaware limited liability company (the "Management Company") and Daniel S. Loeb, an individual ("Mr. Loeb," and together with the Management Company, the "Reporting Persons"). The Schedule 13D relates to the common stock, par value $0.001 per share, of SFBC International, Inc., a Delaware corporation (the "Company"). Unless the context otherwise requires, references herein to the "Common Stock" are to such common stock of the Company. The Management Company is the investment manager or adviser to a variety of hedge funds and managed accounts (such funds and accounts, collectively, the "Funds"). The Funds directly own the Common Stock to which this Schedule 13D relates, and the Reporting Persons may be deemed to have beneficial ownership over such Common Stock by virtue of the authority granted to them by the Funds to vote and to dispose of the securities held by the Funds, including the Common Stock. This Amendment is filed to correct certain per share transaction prices that were erroneously reported in the Original 13D and to reflect a revised amount of funds expended in connection with the purchase by the Funds of shares of Common Stock. Item 3. Source and Amount of Funds or Other Consideration. Item 3 of the Schedule 13D is hereby amended by deleting the entirety of the text thereof and replacing it with the following: The Funds expended an aggregate of $2,763,094.54 of their own investment capital to acquire the 638,400 shares of Common Stock held by them. As of December 19, 2005, the Funds had expended an aggregate of $20,949,225.00 of their own investment capital to acquire the 1,500,000 shares of Common Stock then held by them. The Common Stock was acquired in open market purchases. The Funds effect purchases of securities primarily through margin accounts maintained for them with Bear, Stearns Securities Corp. and Goldman, Sachs & Co. (the "Primary Brokers") which may extend margin credit to the Funds as and when required to open or carry positions in the margin accounts, subject to applicable Federal margin regulations, stock exchange rules and the firm's credit policies. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the accounts. Item 5. Interest in Securities of the Issuer. Item 5(c) of the Schedule 13D is hereby amended by replacing Schedule A to the Original 13D with Schedule A hereto. 4 Schedule A ---------- (Transactions by the Funds in Common Stock during the past sixty days prior to December 19, 2005 through the date of filing) Date Transaction Shares Price Per Share($) ---- ----------- ------ ------------------ - -------------- ---------------- --------------------- ------------------- 12/16/2005 BUY 800,000 13.7360 - -------------- ---------------- --------------------- ------------------- 12/16/2005 BUY 50,000 12.9328 - -------------- ---------------- --------------------- ------------------- 12/19/2005 BUY 277,800 14.3289 - -------------- ---------------- --------------------- ------------------- 12/19/2005 BUY 184,500 14.3289 - -------------- ---------------- --------------------- ------------------- 12/19/2005 BUY 187,700 14.3289 - -------------- ---------------- --------------------- ------------------- 12/21/2005 SELL (15,000) 14.4582 - -------------- ---------------- --------------------- ------------------- 12/22/2005 BUY 15,000 15.1361 - -------------- ---------------- --------------------- ------------------- 12/22/2005 SELL (50,000) 15.6807 - -------------- ---------------- --------------------- ------------------- 12/23/2005 SELL (50,000) 16.2507 - -------------- ---------------- --------------------- ------------------- 12/30/2005 SELL (200,000) 16.0821 - -------------- ---------------- --------------------- ------------------- 01/03/2006 SELL (25,000) 18.2974 - -------------- ---------------- --------------------- ------------------- 01/03/2006 BUY 100,000 18.7162 - -------------- ---------------- --------------------- ------------------- 01/05/2006 SELL (25,000) 20.7763 - -------------- ---------------- --------------------- ------------------- 01/09/2006 BUY 25,000 18.9905 - -------------- ---------------- --------------------- ------------------- 01/10/2006 BUY 50,000 18.3625 - -------------- ---------------- --------------------- ------------------- 01/10/2006 SELL (50,000) 18.4999 - -------------- ---------------- --------------------- ------------------- 01/20/2006 SELL (75,000) 19.3074 - -------------- ---------------- --------------------- ------------------- 02/08/2006 SELL (25,000) 25.1986 - -------------- ---------------- --------------------- ------------------- 02/10/2006 SELL (60,900) 24.5556 - -------------- ---------------- --------------------- ------------------- 02/10/2006 SELL (15,700) 24.5556 - -------------- ---------------- --------------------- ------------------- 02/16/2006 SELL (51,500) 23.4500 - -------------- ---------------- --------------------- ------------------- 02/16/2006 SELL (105,800) 23.4500 - -------------- ---------------- --------------------- ------------------- 02/16/1006 SELL (42,700) 23.4500 - -------------- ---------------- --------------------- ------------------- 02/16/2006 SELL (9,700) 23.4500 - -------------- ---------------- --------------------- ------------------- 02/16/2006 SELL (34,500) 23.4500 - -------------- ---------------- --------------------- ------------------- 02/16/2006 SELL (35,600) 23.4500 - -------------- ---------------- --------------------- ------------------- 02/16/2006 SELL (20,700) 23.4500 - -------------- ---------------- --------------------- ------------------- 02/16/2006 SELL (33,600) 23.4500 - -------------- ---------------- --------------------- ------------------- 02/16/2006 SELL (63,300) 23.4500 - -------------- ---------------- --------------------- ------------------- 02/16/2006 SELL (62,600) 23.4500 - -------------- ---------------- --------------------- ------------------- SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: February 21, 2006 THIRD POINT LLC By: /s/ Daniel S. Loeb ------------------------------ Name: Daniel S. Loeb Title: Chief Executive Officer /s/ Daniel S. Loeb ------------------------------ Daniel S. Loeb [SIGNATURE PAGE TO AMENDMENT NO. 1 TO SCHEDULE 13D WITH RESPECT TO SFBC INTERNATIONAL, INC.] -----END PRIVACY-ENHANCED MESSAGE-----