<PAGE> 1
- --------------------------------------------------------------------------------
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 EARLIEST EVENT REPORTED
DECEMBER 10, 1999
DAIN RAUSCHER CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-8186 41-1228350
(State or other jurisdiction of (Commission file number) (IRS Employer
incorporation of organization) Identification Number)
DAIN RAUSCHER PLAZA, 60 SOUTH SIXTH STREET
MINNEAPOLIS, MINNESOTA 55402-4422
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (612) 371-2711
NOT APPLICABLE
(Former name or former address, if changed since last report)
- --------------------------------------------------------------------------------
<PAGE> 2
ITEM 5. OTHER EVENTS
Reference is made to Exhibit 99.1 filed herewith.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 99.1 Press release announcing arbitration decision and
related charge.
1
<PAGE> 3
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.
DAIN RAUSCHER CORPORATION
Registrant
Date: December 13, 1999 By: David J. Parrin
---------------------------- -----------------------
David J. Parrin
Senior Vice President and Controller
2
<PAGE> 4
DAIN RAUSCHER CORPORATION
INDEX OF EXHIBITS
Exhibit No.
- ----------
99.1 Press release announcing arbitration decision and related
charge.
3
<PAGE> 1
[DAIN RAUSCHER LOGO] NEWS
RELEASE
DAIN RAUSCHER TO TAKE $10.6 MILLION CHARGE
RELATED TO ARBITRATION
MINNEAPOLIS (Dec. 10, 1999)-Dain Rauscher Corporation (NYSE: DRC) today
announced that it expects to take a $10.6 million after tax charge (78 cents
per diluted share) to its fourth-quarter 1999 earnings related to an NASD
arbitration panel decision it received late today.
The arbitration panel's decision was related to a case filed against Dain
Rauscher by John G. Kinnard and Company, a Minneapolis brokerage firm, related
to Dain Rauscher's recruitment of 18 Kinnard investment executives over a
period of 18 months. It included $7 million in compensatory damages, $7 million
in punitive damages and $2.6 million in individual awards.
"We strongly disagree with the panel's decision" said Irving Weiser,
chairman, president and chief executive officer of Dain Rauscher. "Our
recruitment efforts were in line with industry standards. We plan to appeal the
decision."
Dain Rauscher Corporation is one of the nations's largest full-service
securities firms with 1,300 private client and institutional investment
executives and 3,600 employees. Founded in 1909, the Minneapolis-based
securities firm serves individual investors predominantly in the western half
of the United States, and capital markets and correspondent clients in select
markets throughout the nation. The company's broker-dealer, Dain Rauscher
Incorporated, is a member of the New York Stock Exchange and other major
securities exchanges, as well as the Securities Investor Protection Corp. The
company's common stock trades on the NYSE under the symbol DRC. Its
headquarters are at Dain Rauscher Plaza, 60 S. Sixth St., Minneapolis,
Minnesota, 55402-4422.
###
CONTACT: Jennifer Driscoll, (612) 373-1647, or [email protected]
--------------------------
