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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): May 13, 1999
No. 0-22423
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Commission File Number
HCB Bancshares, Inc.
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(Exact name of registrant as specified in its charter)
Oklahoma 62-1670792
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(State of Incorporation) (I.R.S. Employer
Identification no.)
237 Jackson Street, Camden, Arkansas 71701
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(Address of Principal Executive Offices) (Zip Code)
(870) 836-6841
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Registrant's Telephone Number, Including Area Code
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Item 5. Other Events.
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On May 13, 1999, HCB Bancshares, Inc. (the "Company")
announced that a complaint against it has been filed in the
United States District Court for the Eastern District of Texas,
Texarkana Division. Also named as defendants were Vida H.
Lampkin, the Chairman of the Board, President and Chief
Executive Officer of the Company, Cameron D. McKeel, the
Executive Vice President and a Director of the Company, and
Marcie Ainsworth, the former Vice President and Chief Financial
Officer of the Company. The plaintiff, James E. Keever, filed
the case on April 28, 1999 as a class action on behalf of
himself and all other persons who purchased or otherwise
acquired the Company's common stock between September 28, 1997
and February 2, 1999.
The complaint alleges that the defendants violated Sections
10(b) and 20(a) of the Securities Exchange Act of 1934, as
amended, and Rule 10b-5 thereunder, and that the defendants
defrauded the plaintiff and the other class members, in
connection with various public statements and reports
disseminated by the defendants with respect to the Company
during the period described above. The complaint alleges that
these acts and statements artificially inflated the market price
of the Company's common stock, thereby causing the plaintiff and
other class members to purchase the Company's common stock at
inflated prices. The plaintiff seeks damages suffered in
connection with the purchase of Company common stock during the
specified period by the plaintiff and other class members. The
plaintiff also asked the court to determine that the suit is
properly maintainable as a class action pursuant to Rule 23 of
the Federal Rules of Civil Procedure and to certify the
plaintiff as the class representative and his counsel as class
counsel.
The Company is reviewing the complaint and intends to
contest the allegations vigorously.
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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 thereunto duly authorized as of
the date set forth below.
HCB BANCSHARES, INC.
Date: May 14, 1999 By: Vida H. Lampkin
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Vida H. Lampkin, President
(Duly Authorized Representative)
