UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 20, 1994
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TRAK AUTO CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-12202 52-1281465
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3300 75th Avenue, Landover, Maryland 20785
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (301) 731-1200
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(Former name or former address, if changed since last report.)
The total number of sequentially numbered pages is 2.
This filing contains no exhibits.
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Item 5. Other Events
On September 20, 1994, a federal district court jury in the
employment litigation brought by Robert M. Haft, the former president of
Dart Group Corporation ("Dart") (Robert M. Haft v. Dart Group Corporation,
et al. (D. Del. Civ. Action No. 93-384-SLR)), found that Dart had breached
its employment contract with Robert M. Haft and awarded him damages against
Dart (equivalent to the compensation projected to be due under the remaining
term of the employment contract) in the amount of $18,856,964. The jury
also found that Dart's majority-owned subsidiary, Crown Books Corporation
("Crown Books"), had breached an employment agreement with Robert Haft and
awarded him damages (equivalent to the compensation projected to be due
under that employment contract) against Crown Books in the amount of
$12,800,910. The jury also found that Robert Haft did not voluntarily
terminate his employment within the meaning of his Incentive Stock Agreement
with Crown Books, and therefore Crown Books does not have the right to
repurchase 100,000 shares of incentive stock at their original issue price.
Robert Haft is expected to ask the judge presiding over the case to award
him additional damages in the amount of approximately $2.4 million based on
the failure of Crown Books to deliver 100,000 unrestricted shares of Crown
Books stock to him when he demanded them in August of 1993.
Dart and Crown Books are considering their options,
including seeking to overturn the verdict in the District Court and taking
an appeal.
Trak Auto Corporation ("Trak Auto"), a majority-owned
subsidiary of Dart, is a defendant in this litigation. However, none of the
verdicts related to any claims against Trak Auto. Robert Haft's claims
against Trak Auto, which relate to certain stock options, remain pending.
SIGNATURE
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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.
TRAK AUTO CORPORATION
By: /s/ Ron Marshall
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Name: Ron Marshall
Title: Chief Financial Officer
Date: September 26, 1994
