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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) July 24, 1998
FRUIT OF THE LOOM, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 1-8941 36-3361804
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) (File Number) Identification No.)
5000 SEARS TOWER
233 SOUTH WACKER DRIVE
CHICAGO, ILLINOIS 60606
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(Address of Principal Executive Offices, including zip code)
Registrant's telephone number, including area code (312) 876-1724
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FRUIT OF THE LOOM, INC.
ITEM 5. OTHER EVENTS
On July 1, 1998, the New England Health Care Employees Pension Fund filed a
purported class action on behalf of all those who purchased Fruit of the
Loom, Inc. (the "Company") Class A Common Stock and publicly traded options
between July 24, 1996 and September 5, 1997 (the "Class Period") against the
Company and William Farley, Bernhard Hansen, Richard C. Lappin, G. William
Newton, Burgess D. Ridge, Larry K. Switzer and John D. Wigodsky, each of whom
are current or former officers of the Company, in the United States District
Court for the Western District of Kentucky. The plaintiff claims that the
defendants engaged in conduct violating Section 10b of the Securities Exchange
Act of 1934, as amended (the "Act"), and that the Company and Mr. Farley also
liable under Section 20a of the Act. According to the plaintiff, during the
Class Period, the Company, with the knowledge and assistance of the individual
defendants, issued misleading positive public statements about the Company's
condition and prospects causing the plaintiff and the class to buy Company stock
at artificially inflated prices. The plaintiff also alleges that during the
Class Period, the individual defendants sold stock of the Company while
possessing material non-public information. The plaintiff asks for unspecified
amounts as damages, interest and costs and ancillary relief. Management
believes that the suit is without merit and management and the Company intend to
defend it vigorously. Management believes, based on information currently
available, that the ultimate resolution of this litigation will not have a
material adverse affect on the financial condition or results of the operations
of the Company, but the ultimate resolution of the suit, if unfavorable, could
be material to the results of operations of a particular future period.
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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.
FRUIT OF THE LOOM, INC.
By: /s/ Larry K. Switzer
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Larry K. Switzer
Executive Vice President and
Chief Financial Officer
Dated: July 24, 1998
