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UNITED STATES
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): April 11, 2000
Commission file number 0-28706
FIRST ALLIANCE CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 33-0721183
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(State or other jurisdiction of (I.R.S. Employer Identification Number)
incorporation or organization)
17305 VON KARMAN AVENUE, IRVINE, CALIFORNIA 92614
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code (949) 224-8500
(Former name or former address, if changed since last report): Not Applicable
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ITEM 5. OTHER EVENTS
On April 11, 2000, The NASDAQ-Amex Market Group, a NASD Company,
("NASDAQ") notified the Company that at the opening of business on April 20,
2000, it will delist the Company's common stock from the NASDAQ National Market
System due to (i) the uncertainty regarding the timing of effectiveness for a
plan of bankruptcy reorganization; (ii) the uncertainty regarding the specific
terms of the planned bankruptcy reorganization; (iii) the Company's failure to
satisfy NASDAQ's continued listing requirements; (iv) concerns regarding the
residual equity interest of the existing listed securities holders; and (v) the
Company's March 23, 2000 filing under Chapter 11 of the U.S. Bankruptcy Code and
associated public interest concepts set forth under Marketplace Rules 4450(f)
and 4430(a)(3). A copy of the press release is filed as Exhibit 20.1 hereto, and
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial statements - not applicable.
(b) Pro forma financial information - not applicable.
(c) Exhibits:
(20.1) Press release issued by the Company dated April 17,
2000.
SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) 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.
Date: April 17, 2000
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FIRST ALLIANCE CORPORATION
By: /s/ FRANCISCO NEBOT
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Francisco Nebot
President and
Chief Financial Officer
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION PAGE NO.
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20.1 Press Release of the Registrant, dated April 17, 2000 4
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EXHIBIT 20.1. PRESS RELEASE OF THE REGISTRANT, DATED APRIL 17, 2000
COMPANY CONTACT:
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Francisco Nebot
President and CFO
(949) 224-8403
Susan Linder
Investor Relations
(949) 224-8401
Web Site: www.firstalliancemortgage.com
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For Immediate Release
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NASDAQ DELISTS FIRST ALLIANCE CORPORATION SHARES
IRVINE, CALIF. (APRIL 17, 2000) - Today, First Alliance Corporation, a
sub-prime lender headquartered in Irvine, California whose business was making
mortgage loans primarily to borrowers with impaired credit, announced that The
NASDAQ-Amex Market Group, a NASD Company, notified the Company that, at the
opening of business on April 20, 2000, the Company's common stock will be
delisted from the NASDAQ National Market due to (i) the uncertainty regarding
the timing of effectiveness for a plan of bankruptcy reorganization; (ii) the
uncertainty regarding the specific terms of the planned bankruptcy
reorganization; (iii) the Company's failure to satisfy NASDAQ's continued
listing requirements; (iv) concerns regarding the residual equity interest of
the existing listed securities holders; and (v) the Company's March 23, 2000
filing under Chapter 11 of the U.S. Bankruptcy Code and associated public
interest concepts set forth under Marketplace Rules 4450(f) and 4430(a)(3).
"Safe Harbor" Statement Regarding Forward-looking Information or
Statements:
Certain of the matters discussed in this news release are
forward-looking statements that involve risks and uncertainties, including,
without limitation, regulatory and operating risks related to the Company as a
sub-prime lender, and other factors, risks and uncertainties that may cause
actual results to differ materially from such forward-looking information. Such
uncertainties include, but are not limited to, our ability to continue to have
the stock of the Company traded on a market. Further, factors that could cause
results to differ materially from those in the forward-looking statements are
detailed from time-to-time in reports filed by the Company with the U.S.
Securities and Exchange Commission, including Forms 8-K, 10-Q and 10-K (a copy
of which may also be obtained from the Company at (949) 224-8401).
CONTACT: Francisco Nebot, President and CFO, 949-224-8403, or Susan Linder,
Investor Relations, 949-224-8401, both of First Alliance Corporation.
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