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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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 7, 1999
FLORIDA PANTHERS HOLDINGS, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 1-13173 65-0676005
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(State or Other Jurisdiction (Commission (IRS Employer or
of Incorporation) File Number) Identification No.)
450 East Las Olas Boulevard, Fort Lauderdale, FL 33301
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(Address of Principal Executive Offices) (Zip Code)
(Registrant's Telephone Number, Including Area Code) (954) 712-1300
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Not Applicable
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(Former Name or Former Address; if Changed Since Last Report)
Page 1 of 4 pages.
Exhibit Index at Page 2.
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Item 5. Other Events.
This Current Report on Form 8-K is being filed solely for the purpose
of filing the press release included as Exhibit 99 hereto.
Item 7. Financial Statement and Exhibits
(c) Exhibits.
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Sequential
Exhibit No. Description Page Number
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99 Press Release dated June 7, 1999.
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SIGNATURE
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.
FLORIDA PANTHERS HOLDINGS, INC.
June 8, 1999
By: /s/ William M. Pierce
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William M. Pierce
Senior Vice President, Treasurer and
Chief Financial Officer
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EXHIBIT 99
Monday, June 7, 4:38 p.m. Eastern Time
Company Press Release
SOURCE: Florida Panthers Holdings, Inc.
COURTS DISMISS CLAIMS AGAINST FLORIDA PANTHERS HOLDINGS; COMPANY TO SEEK
RECOVERY OF LEGAL FEES
FORT LAUDERDALE, Fla., June 7/PRNewswire/ -- Florida Panthers Holdings,
Inc. has received two favorable decisions in litigation related to the company's
acquisition of Hyatt Regency Pier 66 Hotel and the Bahia Mar Resort and Yachting
Center in December 1996.
"We said at the time that these were frivolous lawsuits completely
without merit and now the courts have confirmed this to be the case," said
Richard Handley, General Counsel to the company. "Lawsuits like these are a
waste of money and time for public companies and only serve to harm the interest
of shareholders. We will continue to aggressively defend against these types of
wasteful and irresponsible lawsuits. In addition, we intend to seek recovery of
legal fees incurred in this unnecessary litigation."
On May 24, 1999, Judge Daniel T.K. Hurley of the U.S. District Court
for the Southern District of Florida granted the company's motion to dismiss a
purported class action complaint in Susser v Florida Panthers Holdings, Inc.
On June 3, 1999, Judge W. Herbert Moriarty of the Circuit Court of the
17th Judicial Circuit in and for Broward County, Florida, granted the company's
motion to dismiss three derivative claims in Kalishman v. Huizenga.
In dismissing the derivative claims in Kalishman v. Huizenga, the Court
stated:
Under any analysis or interpretation of the facts presented to the
Court by both sides, the transaction [pursuant to which Panthers acquired the
Pier 66 Hotel and the Bahia Mar Hotel] was fair to the Panthers and its
shareholders and therefore, the lawsuit has no merit.
Florida Panthers Holdings, Inc. owns luxury resort properties in
Florida and Arizona. The company's resort portfolio includes the Boca Raton
Resort & Club, the Arizona Biltmore Hotel, the Registry Hotel at Pelican Bay,
the Edgewater Beach Hotel, the Hyatt Regency Pier 66 Hotel and Marina, the
Radisson Bahia Mar Resort and Yachting Center and the Grande Oaks Golf Club. The
company also owns the Florida Panthers Hockey Club and has interests in the
operations of the National Car Rental Center located in Broward County, Florida,
the Miami Arena and two ice skating rinks.
This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act and Section 21E of the Exchange
Act, including in particular statements
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about plans, strategies, prospects and the outcome of litigation. Important
factors that could cause actual results to differ materially from
forward-looking statements are set forth in this press release and in the
company's registration statements and periodic reports filed under the
Securities Act and the Exchange Act, including the company's most recent Form
10-K and Form 10-Q. Such factors include, among others, the risks associated
with litigation and the potential impact of litigation on the company's
financial conditions or results of operations.
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