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): July 1, 1999
TBC Corporation
(Exact name of registrant as specified in its charter)
Delaware 0-11579 31-0600670
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
4770 Hickory Hill Road, Memphis, Tennessee 38141
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (901) 363-8030
Not Applicable
(Former name or former address, if changed since last report)
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Item 5. Other Events.
On July 2, 1999, TBC Corporation ("TBC") issued the following press
release:
Release: July 2, 1999
Contact: Ronald E. McCollough
Executive Vice President
TBC TO RECORD LITIGATION CHARGE FOR SECOND QUARTER
MEMPHIS, Tenn. (July 2, 1999) -- TBC Corporation (Nasdaq:TBCC) today indicated
that it will record an after-tax charge for the second quarter of approximately
$2.8 million, or $0.13 per share, related to a judgment in litigation with a
former distributor. The litigation, which was initiated in 1989, involved a
note receivable that TBC held from the business formerly operated by that
distributor.
TBC Corporation, based in Memphis, Tennessee, is one of the nation's
largest marketers and distributors of private brand tires for the automotive
replacement market.
Statements in this press release or otherwise attributable to the Company
regarding the Company's business which are not historical fact, including those
regarding growth in its business, are forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Many factors could cause the Company's actual results to differ
materially from those expressed in the forward-looking statements made by or on
behalf of the Company including, without limitation, trends in the consumer
demand for replacement tires, changes in tire prices, the availability of tires
from suppliers, the impact of competitive tire brands, the ability to achieve
and manage growth, and other risks detailed in the Company's Annual Report on
Form 10K and other filings with the SEC.
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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.
TBC CORPORATION
(Registrant)
July 6, 1999 By:/s/ LOUIS S. DiPASQUA
(Date) Louis S. DiPasqua,
Vice Chairman and
Chief Executive Officer
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