Current Report on Form 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): August 17, 1999
INAMED CORPORATION
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(Exact name of registrant as specified in its charter)
DELAWARE 1-9741 59-0920629
(State or other
jurisdiction of
incorporation)
(Commission File
Number)
(IRS Employer
Identification No.)
5540 Ekwill Street
Santa Barbara, California 93111
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Address of principal executive offices
Registrant's telephone number, including area code: 805/692-5400
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(Former name or former address, if changed since last report.)
Item 5. OTHER EVENTS.
On August 17, 1999, Inamed Corporation (the "Company")
issued a press release announcing that it had resolved the issues
raised in an investigation by the U.S. Securities and Exchange
Commission concerning alleged violations which occurred before
the Company replaced senior management in the first quarter of
1998. In addition, the Company announced it will be submitting
an application with the Nasdaq Stock Market to have its common
stock listed for trading on the Nasdaq National Market System.
The press release is attached as Exhibit 99.1 to this Current
Report and incorporated herein by reference.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) EXHIBITS
99.1 Press release of Inamed Corporation dated
August 17, 1999.
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.
INAMED CORPORATION
Dated: August 18, 1999 By: /s/ Richard G. Babbitt
Name: Richard G. Babbitt
Title: Chairman and CEO
EXHIBIT INDEX
99.1 Press Release of Inamed Corporation dated August
17, 1999.
Exhibit 99.1
INAMED "Innovation and Medicine" INAMED CORPORATION
5540 Ekwill Street
Santa Barbara, CA 93111
(805) 692-5400 Telephone
(805) 692-5432 Facsimile
Company Contacts: Ilan Reich, President
David Bamberger, Senior Vice President and
General Counsel
(212) 626-6800
INAMED CORPORATION ANNOUNCES SEC SETTLEMENT AND
WILL SUBMIT NEW APPLICATION FOR NASDAQ NMS LISTING
Santa Barbara, California-August 17, 1999-Inamed Corporation (OTC BB:
IMDC) announced two developments today.
First, the Company reported that it has resolved the issues raised in an
investigation by the U.S. Securities and Exchange Commission which began
after Coopers & Lybrand resigned as the Company's auditors. As part of
the administrative settlement, the SEC today filed an administrative
proceeding in which the Company neither admitted nor denied the findings
and consented to entry of a cease and desist order. According to the
SEC's Order, the events which gave rise to the alleged violations
occurred before the Company replaced senior management in the first
quarter of 1998. New management moved expeditiously to resolve these
matters in the best interests of the Company and its shareholders,
including causing its financial statements to be restated for the periods
in question. The SEC's Order imposed no monetary penalties against the
Company.
Second, the Company announced that it is filing an application with the
Nasdaq Stock Market to have its common stock listed for trading on the
Nasdaq National Market System (NMS). This action reflects the fact that
the Company now meets all quantitative criteria for such a listing.
Mr. Richard G. Babbitt, Inamed's Chairman and CEO, stated: "We are
pleased to have resolved the SEC matter. Since early 1998, we have
operated the Company with the highest level of credibility and integrity.
We do not condone the actions taken by prior management, and we have
worked hard to restore investor confidence. With the SEC investigation
now behind us, we look forward to continuing to work for Inamed's bright
future."
As to the listing application, Mr. Babbitt stated: "We are optimistic
that Inamed's application for listing on Nasdaq's NMS market will be
granted. Inamed is a fine company with a bright future that deserves to
be listed for trading alongside Nasdaq's largest and most respected
companies."
Inamed is a global surgical and medical device company engaged in the
development, manufacturing and marketing of medical devices for the
plastic, reconstructive and aesthetic surgery markets, as well as devices
to treat obesity.
This release contains, in addition to historical information, forward-
looking statements. Such statements are based on management's current
expectations and are subject to a number of uncertainties and risks that
could cause actual results to differ materially from those described in
the forward-looking statements. Factors that may cause such a difference
include, but are not limited to, those described in the Company's Annual
Report on Form 10-K for the year ended December 31, 1998.
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