-----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, JU3Lt4m0lFYsREuuto0IbyKxl4SguLVE5y4AOnM6N/+76y9XmbdZvOk1iVM6UQza 43M8LKwGxrlUeynpgQbM7A== 0000950144-03-006014.txt : 20030502 0000950144-03-006014.hdr.sgml : 20030502 20030502134734 ACCESSION NUMBER: 0000950144-03-006014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030501 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030502 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: 1934 Act SEC FILE NUMBER: 001-12996 FILM NUMBER: 03679087 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 g82538e8vk.htm ADVOCAT, INC. - FORM 8-K ADVOCAT, INC. - FORM 8-K
Table of Contents

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):
May 1, 2003

ADVOCAT INC.

(Exact name of Registrant as specified in its charter)
         
Delaware   001-12996   62-1559667

 
 
(State or other jurisdiction of
incorporation)
  (Commission File Number)   (IRS Employer
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)

 


SIGNATURES
Exhibit Index
EX-99.1 PRESS RELEASE 05/01/03


Table of Contents

Item 5. Other Events.

For the purpose of informing the market, the Registrant announces the reduced judgment in the previously announced professional liability lawsuit. A press release dated May 1, 2003 is attached to this Report.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits

(c)  Exhibits

     
Number   Exhibit

 
99.1   Press Release dated May 1, 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 thereunto duly authorized.

             
    ADVOCAT INC.
             
    By:   /s/   William R. Council, III
       
            William R. Council, III
            Chief Executive Officer
             
Date: May 1, 2003            

 


Table of Contents

Exhibit Index

             
Exhibit No.            

           
99.1   Press release dated May 1, 2003.

  EX-99.1 3 g82538exv99w1.txt EX-99.1 PRESS RELEASE 05/01/03 EXHIBIT 99.1 ADVOCAT INC. 277 MALLORY STATION ROAD, SUITE 130 FRANKLIN, TENNESSEE 37067 (615) 771-7575 NEWS RELEASE Contact: William R. Council, III Chief Executive Officer ADVOCAT ANNOUNCES REDUCED JUDGMENT IN ARKANSAS SUPREME COURT CASE FRANKLIN, Tenn. - (May 1, 2003) - Advocat Inc. (NASDAQ OTC: AVCA) today announced that the Arkansas Supreme Court issued a decision in the case of Advocat v. Sauer, case number 02-189, on the Company's appeal of a verdict in the previously announced professional liability lawsuit against the Company totaling $78.425 million in Mena, Arkansas. The Arkansas Supreme Court remits $10 million of compensatory damages and $42 million of punitive damages, resulting in a total judgment of $26.425 million. The plaintiffs have 18 days to accept the reduced judgment. Otherwise, the case will be reversed and remanded for a new trial. The Company has not yet made any decision regarding whether it will seek to obtain review of the opinion by the United States Supreme Court or take other available legal action with respect to this case. "We are disappointed that the judgment wasn't reversed and remanded for a new trial," said William R. Council, Chief Executive Officer. "However, if the reduced judgment is accepted by the Plaintiffs, we believe that the judgment amount is within our insurance coverage." Forward-looking statements made in this release involve a number of risks and uncertainties, including but not limited to, uncertainty regarding the Company's ability to restructure or refinance its debt, the impact of under insured professional liability claims, 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. is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet services. Advocat Inc. provides long-term care services to nursing home patients and residents of assisted living facilities in 10 states, primarily in the Southeast, and three provinces in Canada. For additional information about the Company, visit Advocat's web site: http://www.irinfo.com/avc -----END PRIVACY-ENHANCED MESSAGE-----