-----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, R9J15rCi+ANSu9a52IfBgnYOkyo7Eu8Y1pfl4DD4k4PAL+/JknPl+PnTPBWpXGHS E8DUpAAnjPY0cmRMihNNPA== 0000950136-01-500884.txt : 20010720 0000950136-01-500884.hdr.sgml : 20010720 ACCESSION NUMBER: 0000950136-01-500884 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20010719 GROUP MEMBERS: BARRY W. FLORESCUE GROUP MEMBERS: BFMA HOLDING CORP GROUP MEMBERS: CHARLES W. MIERSCH GROUP MEMBERS: FLORESCUE FAMILY CORPORATION GROUP MEMBERS: NED L. SIEGEL GROUP MEMBERS: RICHARD A. BLOOM SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MORTONS RESTAURANT GROUP INC CENTRAL INDEX KEY: 0000883981 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 133490149 STATE OF INCORPORATION: DE FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-42940 FILM NUMBER: 1684829 BUSINESS ADDRESS: STREET 1: 3333 NEW HYDE PK RD STE 210 CITY: NEW HYDE PARK STATE: NY ZIP: 11042 BUSINESS PHONE: 5166271515 MAIL ADDRESS: STREET 1: 3333 NEW HYDE PARK ROAD STREET 2: SUITE 210 CITY: NEW HYDE PARK STATE: NY ZIP: 11042 FORMER COMPANY: FORMER CONFORMED NAME: QUANTUM RESTAURANTS GROUP INC DATE OF NAME CHANGE: 19950315 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BFMA HOLDING CORP CENTRAL INDEX KEY: 0001128220 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 521958726 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 37 HUNTINGTON STREET CITY: CORTLAND STATE: NY ZIP: 13045 BUSINESS PHONE: 8004313023 SC 13D/A 1 file001.txt AMENDMENT TO SCHEDULE 13D ----------------------------- OMB APPROVAL ----------------------------- OMB Number: 3235-0145 ----------------------------- Expires: October 31, 2002 ----------------------------- Estimated average burden hours per response. . . 14.9 ----------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. ___4___)* Morton's Restaurant Group, Inc. (Name of Issuer) Common Stock, $.01 par value (Title of Class of Securities) 619429 10 3 (CUSIP Number) Barry W. Florescue c/o BFMA Holding Corporation 50 East Sample Road, Suite 400 Pompano Beach, Florida 33064 (800) 675- 6115 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 19, 2001 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of (Sections) 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 (Section) 240.13d-7(b) 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 (the "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. 619429 10 3 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) BFMA HOLDING CORPORATION - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) WC - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization DELAWARE - -------------------------------------------------------------------------------- 7) Sole Voting Power 298,500 Number of ------------------------------------------------------------ Shares 8) Shared Voting Power Beneficially 0 Owned by ------------------------------------------------------------ Each 9) Sole Dispositive Power Reporting 298,500 Person ------------------------------------------------------------ with 10) Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 298,500 - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 7.2% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CUSIP No. 619429 10 3 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) FLORESCUE FAMILY CORPORATION - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) WC - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization NEVADA - -------------------------------------------------------------------------------- 7) Sole Voting Power 29,100 Number of -------------------------------------------------------------- Shares 8) Shared Voting Power Beneficially 0 Owned by -------------------------------------------------------------- Each 9) Sole Dispositive Power Reporting 29,100 Person -------------------------------------------------------------- with 10) Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 29,100 - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 0.7% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CUSIP No. 619429 10 3 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) BARRY W. FLORESCUE - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) AF - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization UNITED STATES - -------------------------------------------------------------------------------- 7) Sole Voting Power 327,600 Number of -------------------------------------------------------------- Shares 8) Shared Voting Power Beneficially 56,300 Owned by -------------------------------------------------------------- Each 9) Sole Dispositive Power Reporting 327,600 Person -------------------------------------------------------------- with 10) Shared Dispositive Power 56,300 - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 383,900 - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 9.3% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CUSIP No. 619429 10 3 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) NED L. SIEGEL - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) AF - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings 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 -------------------------------------------------------------- Shares 8) Shared Voting Power Beneficially 56,300 Owned by -------------------------------------------------------------- Each 9) Sole Dispositive Power Reporting 0 Person -------------------------------------------------------------- with 10) Shared Dispositive Power 56,300 - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 56,300 - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 1.4% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CUSIP No. 619429 10 3 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) RICHARD A. BLOOM - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) AF - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization UNITED STATES - -------------------------------------------------------------------------------- 7) Sole Voting Power 5,000 NUMBER OF -------------------------------------------------------------- SHARES 8) Shared Voting Power BENEFICIALLY 0 OWNED BY -------------------------------------------------------------- EACH 9) Sole Dispositive Power REPORTING 5,000 PERSON -------------------------------------------------------------- WITH 10) Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 5,000 - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 0.1% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CUSIP No. 619429 10 3 - -------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) CHARLES W. MIERSCH - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) AF - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization UNITED STATES - -------------------------------------------------------------------------------- 7) Sole Voting Power 500 NUMBER OF ---------------------------------------------------------------- SHARES 8) Shared Voting Power BENEFICIALLY 0 OWNED BY ---------------------------------------------------------------- EACH 9) Sole Dispositive Power REPORTING 500 PERSON ---------------------------------------------------------------- WITH 10) Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 500 - -------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 0.0% - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- This Amendment No. 4 to the Statement on Schedule 13D amends and supplements the Statement in Schedule 13D relating to the event date of January 25, 2001, filed by BFMA Holding Corporation, Florescue Family Corporation, Barry W. Florescue and Ned L. Siegel as amended by Amendment No. 1 relating to the event date of March 21, 2001, Amendment No. 2 relating to the event date of April 26, 2001 and Amendment No. 3 relating to the event date of June 27, 2001 (collectively, the "Schedule 13D"). Capitalized terms used herein and not defined herein shall have the meanings assigned thereto in the Schedule 13D. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER Item 6 has been supplemented with the following: On July 19, 2001, BFMA sent a letter to Morton's, a copy of which is attached hereto and incorporated by reference. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS Exhibit A. Agreement of Joint Filing. (1) Exhibit B. Definitive Proxy Statement, dated April 26, 2001. (2) Exhibit C. Letter from BFMA to Morton's, dated May 1, 2001. (2) Exhibit D. Commitment Letter from Icahn Associates Corp., dated May 1, 2001. (2) Exhibit E. Letter from BFMA to Greenhill & Co., LLC, dated June 27, 2001. (3) Exhibit F. Letter from BFMA to Morton's. (1) Filed as an exhibit to Amendment No. 1 to the Statement on Schedule 13D. (2) Filed as an exhibit to Amendment No. 2 to the Statement on Schedule 13D. (3) Filed as an exhibit to Amendment No. 3 to the Statement on Schedule 13D. SIGNATURES After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the undersigned hereby certifies that the information set forth in this Schedule 13D is true, complete and correct. Dated: July 19, 2001 BFMA HOLDING CORPORATION By: /s/ Barry W. Florescue ----------------------------------- Name: Barry W. Florescue Title: Chief Executive Officer FLORESCUE FAMILY CORPORATION By: /s/ Barry W. Florescue ----------------------------------- Name: Barry W. Florescue Title: President /s/ Barry W. Florescue --------------------------------------- Barry W. Florescue /s/ Ned L. Siegel --------------------------------------- Ned L. Siegel /s/ Richard A. Bloom --------------------------------------- Richard A. Bloom /s/ Charles W. Miersch --------------------------------------- Charles W. Miersch EX-99.F 2 file002.txt LETTER FROM BFMA TO MORTON'S, DATED JULY 19, 2001 ================================================================================ BFMA HOLDING CORPORATION ================================================================================ ............................................................................... July 19, 2001 VIA FACSIMILE AND OVERNIGHT COURIER - ----------------------------------- Allen Bernstein Chairman and CEO Morton's Restaurant Group, Inc. 3333 New Hyde Park Road New Hyde Park, NY 11042 Dear Mr. Bernstein: Your repeated efforts to discredit our offer to purchase Morton's are outrageous. The blatant lies in your press release serve to confirm that you, John Castle and the rest of the directors are acting in your own interests and not on behalf of Morton's shareholders. This process is about maximizing shareholder value and should not involve egos. Since BFMA made its offer three months ago, you have dragged your feet at every step in the process and avoided any serious exploration of our offer. As we have publicly stated before, you delayed this process for three months with the sole intention of claiming that our offer was "not serious" once our financing commitment expired. You have achieved your objectives to the detriment of the shareholders. In addition, you have been wholly insincere in your exploration of other strategic alternatives and failed to deliver any alternative that would provide the shareholders more value. Your claim that you have given our offer "full and fair consideration" is an outright lie. It took more than two months for your attorneys to provide BFMA with a draft of a confidentiality agreement. That draft demanded highly unusual terms and conditions under these circumstances. In particular, among other requirements, you (i) demanded a three-year standstill provision which would have prevented BFMA from taking any action with respect to the company including limiting our rights to wage a proxy fight at the company's shareholder meetings for the next three years (which would not have been in the interest of shareholders), (ii) refused to permit BFMA from seeking alternative sources of funds that could have lowered our cost of capital and allowed us to pay more for the Morton's shares than we could otherwise, and (iii) specifically stated that you reserved the right not to provide us with any information which you, in your sole discretion, deem inappropriate (which would have allowed you to severely limit our due diligence and allowed you to continue to hide whatever you are now hiding). We have attempted in good faith to negotiate with your attorneys for three weeks and have received nothing but repeated unreasonable demands. This was just another part of your avoidance strategy. We also believe that your claim that you "executed confidentiality agreements with other interested parties" containing all of these terms was a lie and we challenge you, if they truly exist, to disclose these agreements immediately. - -------------------------------------------------------------------------------- 50 East Sample Road, Suite 400, Pompano Beach, Florida 33064 Allen Bernstein Morton's Restaurant Group. Inc. July 19, 2001 Page 2 Your comment that BFMA "delayed in evidencing its financing capabilities" is another outright lie. Although we believed that your requests for additional financial information concerning BFMA's offer were neither customary nor reasonable at that point in the process, we were committed to pursuing the transaction and immediately provided to you further evidence of BFMA's and Icahn's capacity and commitment to finance the transaction. We provided personal bank and brokerage account statements evidencing more than enough capital to fund the transaction. We immediately provided this information with the expectation that we would move beyond the stalling that had characterized Morton's response to BFMA to date. Instead, we only received more excuses. BFMA remains interested in acquiring Morton's but it would be unwise to add to the over $2 million we have spent so far attempting to purchase the company and bring the Morton's shareholders value. We do not intend to incur any additional costs, including payment of any fees to extend our financing commitment, until Morton's board commits to an outright sale process, openly invites all interested parties into the process, removes John Castle from the special committee and places independent shareholder representation on the board to observe and administer the sale process. We continue to appreciate the tremendous opportunity in the Morton's brand; however, we have no confidence in the existing senior management team to realize that value for the company's shareholders. The recent announcements by management regarding Morton's financial performance are further evidence supporting our concerns that this senior management team is incapable of managing Morton's through these turbulent times. You have publicly stated, and committed to me personally at the company shareholder meeting three months ago, that you would make every effort to focus on reducing operating costs "from a to z." Your announcement of the company's second quarter performance indicates that you have failed miserably. You have not reduced the company's S,G&A spending at all. As a matter of fact, these expenses have gone up as a percent of sales. Restaurant operating expenses have gone up and also increased dramatically as a percent of sales. During a period in which most restaurant companies, including some prominent high-end restaurant chains, have announced positive comp store sales and improved earnings, you have announced horrible results. This leads us to question either your capabilities or your motivations. Either you cannot manage a restaurant company (given your track record I might be inclined to believe this) or you are attempting to make the company look less attractive to a potential suitor. We also believe that you are manipulating the company's balance sheet to further your sale avoidance efforts. Since the end of last year, there has been an unusual reduction in the company's payables and accrued expenses to below customary levels. We believe that you are keeping your debt levels higher to make a purchase of the company appear more expensive. All of this leads us to further question the integrity of your financial reporting. In the past, you have shown the proclivity to manipulate your earnings by delaying certain expenses (ala the endless Mick's, Peasant's and Bertolini's write-offs). Your refusal to permit us to perform any due diligence further fuels our concerns that you are playing games with your numbers. In addition, the information we received from past employees and persons related to the company indicate that there are numerous incidents of abuse by corporate insiders. All of this leads us believe that the shareholders deserve an independent review and audit of the company's financial condition from outside legal and accounting firms. We demand that this investigation begin immediately. - -------------------------------------------------------------------------------- 50 East Sample Road, Suite 400, Pompano Beach, Florida 33064 Allen Bernstein Morton's Restaurant Group. Inc. July 19, 2001 Page 3 Even if Morton's board of directors now takes steps to cover themselves from potential personal liability by feigning efforts to explore a possible sale to other interested buyers, the fact that they have attempted to waste this corporate opportunity for their own personal gain is unconscionable. The fact that the board has yet to authorize the company's financial advisors to call potential suitors, including instructions not to call potential strategic acquirers, is totally irresponsible. These actions have caused irreparable harm to shareholder value. Given the concentration of institutional shareholdings in Morton's stock, I am surprised by the arrogance of this board in its treatment of the company's shareholders. These shareholders trusted the directors to fairly represent their interests as owners of the company. Based on your conduct to date, the shareholders' trust was misplaced. I would anticipate that these shareholders will not make the same mistake twice. I had hoped that we could ultimately engage in a productive dialogue about shareholder value; however, your actions leave me no choice but to assume that we are not going to make any progress without continuing to expose your selfishness and gluttony. Sincerely, /s/ Barry W. Florescue Barry W. Florescue Chairman and CEO - -------------------------------------------------------------------------------- 50 East Sample Road, Suite 400, Pompano Beach, Florida 33064 -----END PRIVACY-ENHANCED MESSAGE-----