-----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, EUbg8Xtt5xl+RkMKQwirDYEgfORmUpNEA4Q5e99BrMenSBltqk27bMyBdLyXHXNM XEhRwOfpYq4zZgtQ4OY1lA== 0000950144-01-503919.txt : 20010627 0000950144-01-503919.hdr.sgml : 20010627 ACCESSION NUMBER: 0000950144-01-503919 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010625 ITEM INFORMATION: FILED AS OF DATE: 20010626 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVOCAT INC CENTRAL INDEX KEY: 0000919956 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-SKILLED NURSING CARE FACILITIES [8051] IRS NUMBER: 621559667 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-12996 FILM NUMBER: 1667882 BUSINESS ADDRESS: STREET 1: 277 MALLORY STATION RD STREET 2: STE 130 CITY: FRANKLIN STATE: TN ZIP: 37067 BUSINESS PHONE: 6157717575 MAIL ADDRESS: STREET 1: 227 MALLORY STATION ROAD STREET 2: SUITE 130 CITY: FRANKLIN STATE: TN ZIP: 37064 8-K 1 g70227e8-k.txt ADVOCAT INC. 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 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): June 25, 2001 ADVOCAT INC. (Exact name of Registrant as specified in its charter) Delaware 001-12996 62-1559667 -------- --------- ---------- (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification Number) 277 Mallory Station Road, Suite 130 Franklin, Tennessee 37067 ------------------------------------------------------------- (Address of principal executive offices) (615) 771-7575 -------------- (Registrant's telephone number, including area code) Not applicable -------------- (Former name or former address, if changed since last report) 2 ITEM 5. OTHER EVENTS. For the purpose of informing the market, the Registrant announces that a jury in Mena, Arkansas has issued a verdict in a professional liability lawsuit against the Registrant and certain of its subsidiaries totaling $78.425 million. A press release dated June 25, 2001 discussing the verdict is attached to this Report. 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 thereunto duly authorized. ADVOCAT INC. By: /s/ William R. Council, III -------------------------------------------------- William R. Council, III Executive Vice-President, Secretary, Principal Financial Officer and Chief Accounting Officer Date: June 26, 2001 Exhibit Index
Exhibit No. - ----------- 99.1 Press release dated June 25, 2001.
EX-99.1 2 g70227ex99-1.txt PRESS RELEASE 1 EXHIBIT 99.1 Advocat Inc. 277 Mallory Station Road, Suite 130 Franklin, Tennessee 37067 (615) 771-7575 NEWS RELEASE - -------------------------------------------------------------------------------- MONDAY JUNE 25, 9:30 AM EASTERN TIME ADVOCAT ANNOUNCES ARKANSAS JURY AWARD FRANKLIN, Tenn.--(BUSINESS WIRE)--June 25, 2001--Advocat Inc. (Nasdaq OTC:AVCA - news) today announced that a jury in Mena, Arkansas, has issued a verdict in a professional liability lawsuit against the Company and certain of its subsidiaries totaling $78.425 million. This judgment must be certified by the trial judge within thirty days. If the judgment is certified by the trial judge, the Company will ask the trial judge to overturn or reduce the verdict, and if denied, will vigorously appeal this decision. The Company believes that it will ultimately be successful in resolving this matter within the insurance limits that were in effect at the time matter arose. In the event that the Company is not successful in its request to the trial judge to overturn the verdict prior to appeal, in order to stay execution of the judgment pending appeal, a bond in the amount of the verdict will be required. In the event the Company's insurance carriers do not post the full amount of the bond, the Company does not have the financial resources to cause the issuance of a bond in the amount in excess of the Company's insurance limits. In that case, the Company would have to consider other alternatives, including seeking bankruptcy court protection, in order to stay execution of the judgment. Forward-looking statements made in this release involve a number of risks and uncertainties, including but not limited to, the actions of the trial judge in response to the company's anticipated request, the uncertainty surrounding the issuance of the bond required to stay execution of the judgment, the ability of the company to be successful on appeal, factors affecting the long-term care industry in general, governmental reimbursement, government regulation, health care reforms, the impact of future licensing surveys, changing economic and market conditions and other risk factors detailed in the Company's Securities and Exchange Commission filings. Advocat Inc. operated 120 facilities including 56 assisted living facilities with 5,245 units and 64 skilled nursing facilities containing 7,230 licensed beds as of March 31, 2001. The Company operates facilities in 12 states, primarily in the Southeast, and four provinces in Canada. For additional information about the Company, visit Advocat's web site: http://www.irinfo.com/avc For more information contact: Advocat Inc.; Charles W. Birkett, 615/771-7575
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