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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): December 10, 1999
KINNARD INVESTMENTS, INC.
(Exact name of registrant as specified in its charter)
MINNESOTA 0-9377 41-0972952
(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File No.) Identification No.)
920 Second Avenue South
Minneapolis, Minnesota 55402
(Address of principal executive offices)
(612) 370-2700
(Registrant's telephone number, including area code)
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Items 1-4. Not Applicable.
Item 5. OTHER EVENTS.
Information contained in a Press Release dated December 10, 1999 is
incorporated herein by reference to Exhibit 99.1 attached hereto.
Item 6. Not Applicable.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a)-(b) Not Applicable.
(c) Exhibits
99.1 Press Release, dated December 10, 1999
Items 8. Not Applicable
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Signatures
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.
KINNARD INVESTMENTS, INC.
Dated: December 16, 1999 By: /s/ William F. Farley
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William F. Farley
Chairman and Chief Executive Officer
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EXHIBIT INDEX
Exhibit Description Method of Filing
- ------- ----------- ----------------
99.1 Press Release, dated December 10, 1999 Electronic Transmission
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EXHIBIT 99.1
KINNARD AWARDED OVER $16.5 MILLION IN DAMAGES IN
CASE AGAINST DAIN RAUSCHER
MINNEAPOLIS (December 10, 1999) -- Kinnard Investments, Inc. (NASDAQ:
KINN) today announced that an arbitration panel from the National Association of
Securities Dealers (NASD) has awarded Kinnard $9,117,000 in compensatory damages
and $7,100,000 in punitive damages and attorney fees of $349,719 in its action
against Dain Rauscher Corporation for employee raiding.
"We are pleased that a panel of independent industry arbitrators agreed
with our claim that we were victims of a raid. Broker talent is a key
competitive advantage in our industry, and this ruling underscores the industry
limits regarding how member firms compete for employees," said William F.
Farley, Kinnard's chairman and chief executive officer.
The NASD sets and enforces a wide range of industry operating standards
for its member broker-dealers, including standards for employee recruitment and
for the proper handling of client accounts.
Kinnard Investments, Inc. is a Minneapolis-based financial services
holding company engaged in securities brokerage, trading, investment banking,
fixed income products, asset management and related financial services. The
company's common stock is traded on the NASDAQ National Market System under the
symbol "KINN."
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