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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) FEBRUARY 17, 2000
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ANCHOR GLASS CONTAINER CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE
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(State or Other Jurisdiction of Incorporation)
0-23359 59-3417812
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(Commission File Number) (I.R.S. Employer Identification No.)
ONE ANCHOR PLAZA, 4343 ANCHOR PLAZA PARKWAY, TAMPA, FLORIDA 33634-7513
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(Address of Principal Executive Offices) (Zip Code)
(813) 884-0000
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(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS.
On February 17, 2000, Owens-Brockway Glass Container Inc. ("Owens")
commenced an action against Anchor Glass Container Corporation (the "Company")
and certain of its affiliates in the United States District Court for the
Southern District of New York. Owens alleges violations of the Technical
Assistance and License Agreement ("Technical Assistance Agreement") resulting in
its termination. Owens is seeking various forms of relief including (1) a
permanent injunction restraining the Company from infringing Owens' patents and
using or disclosing Owens' trade secrets and (2) damages for breaches of the
Technical Assistance Agreement. The Court will hear Owens' motion for a
preliminary injunction on April 12, 2000, which motion the Company has opposed.
The Company and its affiliates filed a demand for arbitration with the
American Arbitration Association on February 24, 2000. On March 15, 2000, the
Court ruled that the dispute as to whether there was a valid termination of the
Technical Assistance Agreement is subject to arbitration. The Company has moved
to dismiss or stay the action pending arbitration. On March 31, 2000, Owens
submitted its answer and counterclaims in the arbitration. Owens has asserted
the position that (i) the Court referred to arbitration only the question
whether there was a valid termination of the Technical Assistance Agreement and
(ii) certain of Owens' claims are not arbitrable.
The Company believes that it has meritorious defenses to Owens' claims
in the action and Owens' counterclaims in the arbitration and intends to conduct
a vigorous defense. An unfavorable outcome in this matter could have a material
and adverse effect on the Company's business prospects and financial condition.
In addition, even if the ultimate outcome of the matter is resolved in favor of
the Company, the defense of such matter may involve considerable cost, which
could be material, and could divert the efforts of management.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
ANCHOR GLASS CONTAINER CORPORATION
By: /s/ Richard M. Deneau
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Name: Richard M. Deneau
Title: President and Chief Operating Officer
Date: April 4, 2000
