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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): January 31, 2000
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Mechanical Technology Incorporated
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(Exact name of registrant as specified in its charter)
New York
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(State or other jurisdiction of incorporation or organization)
0-6890 14-1462255
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(Commission File Number) (I.R.S. Employer Identification No.)
325 Washington Avenue Extension, Albany, New York 12205
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (518) 218-2500
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Item 5. Other Events.
As previously disclosed in a Form 8-K filed with the Securities and Exchange
Commission on November 16,1999, Plug Power Inc. ("Plug Power") received a
letter in November 1999 threatening litigation against it and other parties
(including Mechanical Technology Incorporated (the "Company")) by DCT, Inc.
On January 25, 2000, a complaint was filed by DCT, Inc. against Plug Power
Inc., The Detroit Edison Company and Edison Development Corporation in the
Wayne County, Michigan Circuit Court. The complaint alleges, among other
things, that Plug Power, The Detroit Edison Company and Edison Development
Corporation misappropriated from DCT business and technical trade secrets,
ideas, know-how and strategies relating to fuel cell systems and breached
certain contractual obligations owed to DCT. Plug Power believes that the
allegations made against it are without merit and intends to vigorously
contest the litigation, but the ultimate outcome of any litigation is of
course uncertain.
This Form 8-K may include statements which are not historical facts and are
considered "forward-looking" within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements reflect the
Company's current views about future events and financial performance. These
forward-looking statements are identified by their use of terms and phrases
such as "believe," "expect," "plan," "anticipate," and similar expressions
identifying forward-looking statements. Investors should not rely on
forward-looking statements because they are subject to a variety or risks,
uncertainties, and other factors that could cause actual results to differ
materially from the Company's expectations, and the Company expressly does
not undertake any duty to update forward-looking statements. Additional
information concerning factors that could cause actual results to differ
materially from those in forward looking statements is contained from time
to time in the Company's SEC filings, including but not limited to the 10-K
and 10-Q.
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.
MECHANICAL TECHNOLOGY INCORPORATED
Date: January 31, 2000 By: /s/ Cynthia A. Scheuer
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Cynthia A. Scheuer
Chief Financial Officer
