<PAGE>
[CONFORMED COPY]
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE 13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(A)
(AMENDMENT NO. 1)*
Riscorp, Inc.
- --------------------------------------------------------------------------------
(Name of issuer)
Shares of Class A Common Stock, par value $0.01 per share
- --------------------------------------------------------------------------------
(Title of class of securities)
767597107
- --------------------------------------------------------------------------------
(CUSIP number)
Seth W. Hamot, 121-B Tremont Street, Brighton, MA 02135 (617) 787-2940
- --------------------------------------------------------------------------------
(Name, address and telephone number of person authorized to receive notices and
communications)
April 6, 1999
-----------------------------------------------------------------
(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 which is the subject of this Schedule 13D, and is filing
this schedule because of (S)(S)240.13d-(e), 240.13d-1(f) or 204.13(d)-1(g),
check the following box [_].
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule. See (S)240.13d-7 for other parties to whom copies
are to be sent.
(Continued on the following pages)
(Page 1 of 12 Pages)
_____________________________
*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 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).
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 2 OF 17 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Seth W. Hamot
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
Seth W. Hamot 800,300
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
Seth W. Hamot 5,000
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING Seth W. Hamot 800,300
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
Seth W. Hamot 5,000
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Seth W. Hamot 805,300
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.65%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 3 OF 17 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Costa Brava Partnership II Limited Partnership (04-3387028)
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Massachusetts
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
Costa Brava II 756,300
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING Costa Brava II 756,300
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Costa Brava II 756,300
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.30%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 4 OF 17 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Roark, Rearden & Hamot Inc (04-3242639)
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Massachusetts
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
Roark, Rearden & Hamot Inc. 756,300
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING Roark, Rearden & Hamot Inc. 756,300
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Roark, Rearden & Hamot Inc. 756,300
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.30%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 5 OF 17 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Seth W. Hamot, as custodian for Gideon B. Hamot under the Massachusetts
Uniform Transfers to Minors Act
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
UNITED STATES
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
Seth W. Hamot, as custodian for Gideon B. Hamot under
the Massachusetts Uniform Transfers to Minors Act
5,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING Seth W. Hamot, as custodian for Gideon B. Hamot under
the Massachusetts Uniform Transfers to Minors Act
5,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Seth W. Hamot, as custodian for Gideon B. Hamot under the Massachusetts
Uniform Transfers to Minors Act
5,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.04%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 6 OF 17 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Greenwood Investments Inc. (22-3147811)
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
Greenwood Investments Inc. 80,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING Greenwood Investments Inc. 80,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Greenwood Investments Inc. 80,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.56%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 7 OF 17 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven M. Tannenbaum
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
Steven M. Tannenbaum 80,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING Steven M. Tannenbaum 80,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Steven M. Tannenbaum 80,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.56%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 8 OF 17 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GREENWOOD CAPITAL LIMITED PARTNERSHIP (05-0486774)
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
MASSACHUSETTS
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
GREENWOOD CAPITAL LP 80,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
GREENWOOD CAPITAL LP 80,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
GREENWOOD CAPITAL LP 80,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.56%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 9 OF 17 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CHARLES H. PARKHURST
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
MASSACHUSETTS
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
CHARLES H. PARKHURST 113,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY CHARLES H. PARKHURST 20,000
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
CHARLES H. PARKHURST 113,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
CHARLES H. PARKHURST 20,000
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
CHARLES H. PARKHURST 133,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.93%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 10 OF 17 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CHARLES H. PARKHURST, AS CUSTODIAN FOR CATHERINE PARKHURST UNDER THE NEW
YORK UNIFORM TRANSFERS TO MINORS ACT
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
UNITED STATES
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
CHARLES H. PARKHURST, AS CUSTODIAN FOR CATHERINE
PARKHURST UNDER THE NEW YORK UNIFORM TRANSFERS TO
MINORS ACT 10,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
CHARLES H. PARKHURST, AS CUSTODIAN FOR CATHERINE
PARKHURST UNDER THE NEW YORK UNIFORM TRANSFERS TO
MINORS ACT 10,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
CHARLES H. PARKHURST, AS CUSTODIAN FOR CATHERINE PARKHURST UNDER THE NEW
YORK UNIFORM TRANSFERS TO MINORS ACT 10,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.07%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 11 OF 17 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CHARLES H. PARKHURST, AS CUSTODIAN FOR WILLIAM PARKHURST UNDER THE NEW
YORK UNIFORM TRANSFERS TO MINORS ACT
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
UNITED STATES
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
CHARLES H. PARKHURST, AS CUSTODIAN FOR WILLIAM
PARKHURST UNDER THE NEW YORK UNIFORM TRANSFERS TO
MINORS ACT 10,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
CHARLES H. PARKHURST, AS CUSTODIAN FOR WILLIAM
PARKHURST UNDER THE NEW YORK UNIFORM TRANSFERS TO
MINORS ACT 10,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
CHARLES H. PARKHURST, AS CUSTODIAN FOR WILLIAM PARKHURST UNDER THE NEW
YORK UNIFORM TRANSFERS TO MINORS ACT 10,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.07%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
ITEM 1. SECURITY AND ISSUER
Securities acquired: Shares of Class A Common Stock
Par value of $0.01 per share
Issuer: Riscorp, Inc.
One Sarasota Tower
Suite 608
2 North Tamiami Trail
Sarasota, Florida 34236
941-366-5015
ITEM 2. IDENTITY AND BACKGROUND
This Amendment No. 1 to Schedule 13D (the "Schedule 13D") is being filed on
behalf of Seth W. Hamot (SWH), Costa Brava Partnership II Limited Partnership, a
Massachusetts limited partnership (CBII), Roark, Rearden & Hamot, Inc., a
Massachusetts corporation (RRH), Seth W. Hamot, as custodian for Gideon B. Hamot
under the Massachusetts Uniform Transfers to Minors Act (GBH), Steven M.
Tannenbaum (SMT), Greenwood Capital Limited Partnership (GCLP), Greenwood
Investments, Inc. (GI), Charles H. Parkhurst (CHP), Charles H. Parkhurst, as
custodian for Catherine Parkhurst under the New York Uniform Transfers to Minors
Act (CXP), Charles H. Parkhurst, as custodian for William Parkhurst under the
New York Uniform Transfers to Minors Act (WXP), as an amendment to the initial
statement on Schedule 13D filed with the Commission on September 29, 1998, on
behalf of SWH, CBII, RRH, SMT, GCLP and GI.
This Schedule 13D relates to shares of Class A Common Stock of the Issuer
purchased by CBII, of which RRH is the general partner, SWH for his own account,
GCLP, of which GI is the general partner, GBH for his own account, CHP for
his own account, CXP for his own account and WXP for his own account.
Roark, Rearden, & Hamot Inc., a Massachusetts corporation, is the general
partner of CBII, and is located at 121-B Tremont Street, Brighton, MA 02155.
Mr. Hamot is the principal of RRH. The principal occupation of Mr. Hamot is
investment management, and he is a United States citizen.
Greenwood Investments, Inc., a Delaware corporation, is the general partner of
GCLP, and is located at 125 Country Club Rd., Newton, MA, 02159. Mr.
Tannenbaum is the principal of GI. The principal occupation of Mr. Tannenbaum
is investment management, and he is a United States citizen.
The principal occupation of Mr. Parkhurst is investment management, and he is a
United States citizen with an address of 93 Old Church Road, Greenwich, CT
06830.
Neither RRH, CBII, SWH, GBH, SMT, GCLP, GI , CHP, CXP nor WXP has been convicted
in a criminal proceeding during the last five years. Neither RRH, CBII, SWH,
GBH, SMT, GCLP, GI, CHP, CXP nor WXP was a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction and, as a result
thereof, subject to any judgement, decree, or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violations with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS
As of April 6, 1999, CBII had invested $913,581.99, SWH had invested
$51,913.73, GCLP had invested $125,891.00, GBH had invested $5,166.00, CHP had
invested $201,993.25, CXP had invested $10,300.00, and WXP had invested
$10,300.00 in shares of Class a Common Stock. The sources of all these funds
were the working capital of each entity or personal funds of SWH, GBH , CHP, CXP
and WXP.
ITEM 4. PURPOSE OF TRANSACTION
RRH, CBII, SWH, GBH, SMT, GCLP, GI, CHP, CXP and WXP acquired the Shares as an
investment and with a view to making a profit. None of the Reporting Persons
has any plans or proposals which relate to or would result in a) any
extraordinary corporate transaction, such as a merger, reorganization or
liquidation, involving the issuer or any of its subsidiaries; b) any sale or
transfer of a material amount of assets of the issuer or any of its
subsidiaries; c)any changes in the present manager of the Issuer; d) any change
in the present capitalization of dividend policy of the issuer; e) any other
material change in the Issuer's business or corporate structure; f) any change
in the issuer's charter, by-laws or instruments corresponding thereto or other
actions which may impede the acquisition of control of the issuer by any person;
g) causing a class of securities of the Issuer to be delisted from a national
securities exchange or to cease to be authorized to be quoted in an interdealer
quotation system of registered national securities association; h) causing a
class of securities of the Issuer to become eligible for termination of
registration pursuant to Section 12(g)(4) of the Act; or i) any action similar
to those enumerated in this sentence.
The Reporting Persons are considering the commencement of litigation, under the
legal theory of equitable subordination, against William D. Griffin, RISCORP
Group Holding Company, L.P. and the William D. Griffin Family Limited
Partnership (the general partners of which are Gryphus Company I and Gryphus
Company II), which as a group own over 91% of the Class B shares of the Issuer.
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) - (b) As of April 6, 1998, SWH is the beneficial owner of 44,000 shares and
may be deemed beneficial owner of 805,300 shares of Class A Common Stock of the
Issuer or 5.65% of the shares outstanding; (ii) CBII is beneficial owner of and
RRH may be deemed the beneficial owner of 756,300 shares of Class A Common Stock
of the Issuer or 5.30% of the shares outstanding; (iii) GBH is the beneficial
owner of 5,000 shares of Class A common stock of the Issuer or 0.04% of the
shares outstanding; (iv) GCLP is beneficial owner of and GI and SMT may be
deemed beneficial owner of 80,000 shares of Class A Common Stock of the Issuer
or 0.56% of the shares outstanding; (v) CHP is the beneficial owner of 113,000
shares and may be deemed beneficial owner of 133,000 shares of Class A common
stock of the Issuer or 0.93% of the shares outstanding; (vi) CXP is the
beneficial owner of 10,000 shares of Class A common stock of the Issuer or 0.07%
of the shares outstanding; and (vii) WXP is the beneficial owner of 10,000
shares of Class A common stock of the Issuer or 0.07% of the shares outstanding.
The amount of shares beneficially owned has been computed in accordance with
Rule 13d-3 under the Act. The percentage of beneficial ownership of SWH, CBII,
GBH, GCLP, CHP, CXP and WXP on April 6, 1999 is based upon 14,258,671
outstanding shares of Common Stock as of March 19, 1999 as reported in the
Issuer's Annual Report filed with the Commission on March 23, 1999.
<TABLE>
<CAPTION>
NUMBER OF NUMBER OF
AGGREGATE SHARES: SOLE NUMBER OF SHARES: SOLE
NUMBER POWER TO SHARES: SHARED POWER TO APPROX.
FILING PARTY OF SHARES VOTE POWER TO VOTE DISPOSE PERCENTAGE*
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
SWH 805,300 800,300 5,000 800,300 5.65%
- -------------------------------------------------------------------------------------------------------------
CBII 756,300 756,300 756,300 5.30%
- -------------------------------------------------------------------------------------------------------------
RRH 756,300 756,300 756,300 5.30%
- -------------------------------------------------------------------------------------------------------------
GBH 5,000 5,000 5,000 0.04%
- -------------------------------------------------------------------------------------------------------------
SMT 80,000 80,000 80,000 0.56%
- -------------------------------------------------------------------------------------------------------------
GCLP 80,000 80,000 80,000 0.56%
- -------------------------------------------------------------------------------------------------------------
GI 80,000 80,000 80,000 0.56%
- -------------------------------------------------------------------------------------------------------------
CHP 133,000 113,000 20,000 113,000 0.93%
- -------------------------------------------------------------------------------------------------------------
CXP 10,000 10,000 10,000 0.07%
- -------------------------------------------------------------------------------------------------------------
WXP 10,000 10,000 10,000 0.07%
- -------------------------------------------------------------------------------------------------------------
* Based upon 14,258,671 outstanding shares of Common Stock as of March 19, 1999 as reported in the Issuer's
Annual Report filed with the Commission on March 23, 1999.
- -------------------------------------------------------------------------------------------------------------
</TABLE>
c) Transactions in the Issuer's securities by CBII, SWH, GBH, GCLP, CHP, CXP and
WXP during the last sixty days. All transaction occurred on the NASDAQ OTC
market.
<TABLE>
<CAPTION>
DATE PURCHASE/SALE # OF SHARES PRICE PER SHARE ($)
- ---------- --------------- ----------- -------------------
<C> <S> <C> <C>
FOR CBII
- ----------
3/29/99 P 5,000 $1.25
3/28/99 P 5,000 $1.28
3/29/99 P 2,000 $1.38
3/29/99 P 3,000 $1.44
3/29/99 P 10,000 $1.47
FOR GBH
- ----------
3/8/99 P 2,500 $1.00
3/9/99 P 2,500 $1.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
FOR GCLP
- --------
3/10/99 P 2,500 $1.00
3/22/99 P 8,000 $1.44
3/22/99 P 4,500 $1.50
3/24/99 P 7,500 $1.41
3/25/99 P 1,000 $1.31
3/26/99 P 7,500 $1.19
3/29/99 P 9,000 $1.47
FOR CHP
- ----------
4/6/99 P 4,000 $1.49
4/6/99 P 5,000 $1.47
4/6/99 P 2,000 $1.49
4/6/99 P 3,000 $1.49
4/5/99 P 1,000 $1.40
4/5/99 P 4,000 $1.46
4/5/99 P 5,000 $1.46
4/5/99 P 1,000 $1.41
4/5/99 P 4,000 $1.47
4/1/99 P 2,000 $1.33
3/8/99 P 1,000 $1.02
3/3/99 P 1,000 $1.02
2/9/99 P 2,000 $1.02
2/10/99 P 1,000 $1.04
</TABLE>
d) NA
e) NA
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
NA
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 7(a): Joint Filing Agreement
<PAGE>
SIGNATURE
After due inquiry, to the best of our knowledge and belief, we certify that
the information set forth in this statement is true, complete and correct.
Dated: April 15, 1999
/s/ Seth W. Hamot
--------------------------------------------------------
Seth W. Hamot
Costa Brava Partnership II Limited Partnership
By: Roark, Rearden & Hamot, Inc., its general partner
By: /s/ Seth W. Hamot
--------------------------------------------
Seth W. Hamot
Its: President
Greenwood Capital Limited Partnership
By: Greenwood Investments, Inc.
By: /s/ Steven M. Tannenbaum
--------------------------------------------
Steven M. Tannenbaum
Its: President
Roark, Rearden & Hamot, Inc.
By: /s/ Seth W. Hamot
--------------------------------------------
Seth W. Hamot
Its: President
/s/ Seth W. Hamot
--------------------------------------------------------
Seth W. Hamot, as custodian for Gideon B. Hamot under
the Massachusetts Uniform Transfers to Minors Act
Greenwood Investments, Inc.
By: /s/ Steven M. Tannenbaum
--------------------------------------------
Steven M. Tannenbaum
Its: President
/s/ Steven M. Tannenbaum
--------------------------------------------------------
Steven M. Tannenbaum
/s/ Charles H. Parkhurst
--------------------------------------------------------
Charles H. Parkhurst
<PAGE>
/s/ Charles H. Parkhurst
--------------------------------------------------------
Charles H. Parkhurst, as custodian for Catherine
Parkhurst under the New York Uniform Transfers to Minors
Act
/s/ Charles H. Parkhurst
--------------------------------------------------------
Charles H. Parkhurst, as custodian for William Parkhurst
under the New York Uniform Transfers to Minors Act
<PAGE>
EXHIBIT 7(a)
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934,
as amended, the undersigned agree to the joint filing on behalf of each of them
of a statement on Schedule 13D (including amendments thereto) with respect to
the Class A Common Stock of Riscorp, Inc. and further agree that this agreement
be included as an exhibit to such filing. Each party to the agreement expressly
authorizes each other party to file on its behalf any and all amendments to such
statement. Each party to this agreement agrees that this joint filing agreement
may be signed in counterparts.
In evidence whereof, the undersigned have caused this Agreement to be
executed on their behalf this 15th day of April, 1999
/s/ Seth W. Hamot
------------------------------------------------------------
Seth W. Hamot
Costa Brava Partnership II Limited Partnership
By: Roark, Rearden & Hamot, Inc., its general partner
By: /s/ Seth W. Hamot
--------------------------------------------
Seth W. Hamot
Its: President
Greenwood Capital Limited Partnership
By: Greenwood Investments, Inc.
By: /s/ Steven M. Tannenbaum
--------------------------------------------
Steven M. Tannenbaum
Its: President
Roark, Rearden & Hamot, Inc.
By: /s/ Seth W. Hamot
--------------------------------------------
Seth W. Hamot
Its: President
/s/ Seth W. Hamot
--------------------------------------------------------
Seth W. Hamot, as custodian for Gideon B. Hamot under
the Massachusetts Uniform Transfers to Minors Act
Greenwood Investments, Inc.
By: /s/ Steven M. Tannenbaum
--------------------------------------------
Steven M. Tannenbaum
Its: President
/s/ Steven M. Tannenbaum
--------------------------------------------------------
Steven M. Tannenbaum
/s/ Charles H. Parkhurst
--------------------------------------------------------
Charles H. Parkhurst
<PAGE>
/s/ Charles H. Parkhurst
--------------------------------------------------------
Charles H. Parkhurst, as custodian for Catherine
Parkhurst under the New York Uniform Transfers to Minors
Act
/s/ Charles H. Parkhurst
--------------------------------------------------------
Charles H. Parkhurst, as custodian for William Parkhurst
under the New York Uniform Transfers to Minors Act
