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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) April 15, 1994
AMOCO COMPANY
(Exact name of registrant as specified in its charter)
Delaware 1-8888 36-3353184
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
200 East Randolph Drive, Chicago, Illinois 60601
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (312) 856-6111
(No Change)
(Former name or former address, if changed since last report).
This report contains 3 pages.
1.
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INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events
On April 15, 1994, the Superior Court of the State of California,
County of Los Angeles, entered a new judgment for a total of
$107,609,032.20 in favor of Amoco Chemical Company and Amoco Reinforced
Plastics Company, subsidiaries of Amoco Company and Amoco Corporation,
against certain underwriters at Lloyd's of London and various other
British and European insurance carriers, in AMOCO CHEMICAL COMPANY, et
al, vs. CERTAIN UNDERWRITERS AT LLOYD'S OF LONDON, et al. In that case,
Amoco alleged that the defendant insurers wrongfully refused to pay for
the defense and settlement of product liability lawsuits arising from
Amoco Reinforced Plastics Company's manufacture of irrigation and sewer
pipe in the 1970's. The new judgment reflects a court-ordered reduction
in the punitive damages award included in the prior judgment from
$376,545,097.64 to $71,488,910.00. The compensatory damages award was
unchanged.
The judgment remains subject to appeal by the defendants and the
reduced punitive damages award is subject to appeal by the plaintiffs.
Accordingly, it is impossible at this time to predict the ultimate
outcome of this case or its impact, if any, on the financial position,
results of operations, and cash flows of Amoco Company.
2.
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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.
AMOCO COMPANY
(Registrant)
Date April 25, 1994 DANIEL B. PINKERT
Daniel B. Pinkert
Vice President
3.
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