-----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, MF3zSnMnBAbgLW4ZK82VL0e40rvi4UFwM75ldm7WgEiTMONsVnlRTaQtGlJx2iF0 5bn1LRAJHBSUGp3eVU4sVg== 0000700841-03-000002.txt : 20030127 0000700841-03-000002.hdr.sgml : 20030127 20030127131937 ACCESSION NUMBER: 0000700841-03-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021231 ITEM INFORMATION: Other events FILED AS OF DATE: 20030127 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RCM TECHNOLOGIES INC CENTRAL INDEX KEY: 0000700841 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HELP SUPPLY SERVICES [7363] IRS NUMBER: 951480559 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10245 FILM NUMBER: 03525405 BUSINESS ADDRESS: STREET 1: 2500 MCCLELLAN AVE STE 350 CITY: PENNSAUKEN STATE: NJ ZIP: 08109 BUSINESS PHONE: 6094861777 MAIL ADDRESS: STREET 1: 2500 MCCLELLAN AVENUE STREET 2: STE 350 CITY: PENNSAUKEN STATE: NJ ZIP: 08109-4613 8-K 1 form8k012703.txt FORM8K CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): January 24, 2003 RCM Technologies, Inc. (Exact Name of Registrant Specified in Charter) Nevada 1-10245 95-1480559 (State or Other (Commission File (I.R.S. Employer Jurisdiction of Number) Identification No.) Incorporation) 2500 McClellan Avenue, Suite 350 Pennsauken, NJ 08109-4613 (Address of Principal Executive Offices) (Zip Code) - - Registrant's telephone number, including area code: (856) 486-1777 2 Item 4. Other Events and Required FD Disclosure. On January 24, 2003, a jury delivered a $7.6 million award against the Registrant in a case heard in the Superior Court of New Jersey. The Registrant believes that it has substantial legal basis for securing a reduction of the verdict. Also, the Company will attempt to obtain a new trial on the damages award and plans to appeal any judgment that maybe ultimately entered against the Company. The litigation is discussed in more detail in a press release issued by the Company on January 27, 2003, which is attached hereto as Exhibit 99. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. Exhibit Number Exhibit Title 99 Press release dated January 27, 2003 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RCM TECHNOLOGIES, INC. By: Stanton Remer Chief Financial Officer, Treasurer and Secretary Dated: January 27, 2003 3 EXHIBIT INDEX Exhibit Number Exhibit Title 99 Press release dated January 27, 2003 EX-99.77E 2 pressrel012703.txt PRESS RELEASE LEGAL PROCEEDINGS RCM Technologies, Inc. Tel: 856.486.1777 2500 McClellan Avenue Fax: 856.488.8833 Pennsauken, NJ 08109-4613 info@rcmt.com www.rcmt.com Corporate Contacts: Leon Kopyt Chairman, President & CEO Brian Delle Donne Chief Operating Officer Stanton Remer, CPA Chief Financial Officer Kevin D. Miller Senior Vice President PRESS R E L E A S E RCM TECHNOLOGIES, INC. ANNOUNCES UNFAVORABLE JURY VERDICT Pennsauken, NJ - January 27, 2003 -- RCM Technologies, Inc. (NNM: RCMT) announced today that on January 24, 2003, a New Jersey Superior Court jury returned a $7.6 million verdict against the Company in an action stemming from claims by two shareholders, who were formerly officers and directors of the Company, that they were wrongfully limited in disposing of their restricted shares. Prejudgment interest on the verdict will likely be sought. The Company believes that it has a substantial legal basis for securing a reduction of the verdict. Also, the Company will attempt to obtain a new trial on the damages award and plans to appeal any judgment that maybe ultimately entered against the Company. In addition, the Company is actively pursuing professional liability claims against its former transactional counsel that, if successful, would enable the Company to offset, in whole or in part, any liability it incurs to the plaintiffs in the pending litigation. The Company will record a charge and provide a legal reserve for the verdict in the approximate amount of $8.6 million. This charge will be reflected in the Company's financial results included in its annual report on Form 10-K for the year ended December 31, 2002. Should the Company be successful in pursuing any of its various avenues of legal recourse with respect to the verdict, the legal reserve would be adjusted accordingly. About RCM RCM Technologies, Inc., established in 1971, is a premier provider of business and technology solutions designed to enhance and maximize the performance of its customers through the adaptation and deployment of advanced information technologies and engineering services. RCM is an innovative leader in the design, development and delivery of these solutions and services to a variety of industries. RCM's offices are located in major metropolitan centers throughout North America. Additional information can be found at www.rcmt.com. The Statements contained in this release that are not purely historical are forward-looking statements within the Private Securities Litigation Reform Act of 1995 and are subject to various risks,uncertainties and other factors, including developments in the litigation described in this release, that could cause the Company's actual financial condition, results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Forward looking statements include, but are not limited to, those relating to the Company's plans for recording a charge and providing a legal reserve with respect to the referenced litigation, whether plaintiffs will seek or be awarded pre-judgment interest, whether the Company will seek and obtain a new trial or a reduced award, and whether the Company will prevail on the referenced professional liability claims. Investors are directed to consider such risks, uncertainties and other factors described in documents filed by the Company with the Securities and Exchange Commission. #### -----END PRIVACY-ENHANCED MESSAGE-----