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 22, 1997
THE STROBER ORGANIZATION, INC.
(Exact Name of Registrant as specified in its charter)
DELAWARE 0-15339 11-2822910
(State or other jurisdiction Commission IRS Employer
of incorporation) File Number Identification No.
PIER 3, FURMAN STREET, BROOKLYN, NEW YORK 11201
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code(718) 875-9700
550 HAMILTON AVENUE, BROOKLYN, NEW YORK, 11232
(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS. On January 22, 1997, the Registrant issued a Press
Release, the text of which is attached hereto as Exhibit 20.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) EXHIBITS
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20 Press Release dated 5
January 22, 1997
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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.
THE STROBER ORGANIZATION, INC.
By: /S/ DAVID J. POLISHOOK
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DAVID J. POLISHOOK, Chief Financial Officer
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THE STROBER ORGANIZATION, INC.
EXHIBIT INDEX
TO
FORM 8-K CURRENT REPORT
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20 Press Release dated 5
January 22, 1997
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EXHIBIT 20
Press Release dated Janaury 22, 1997
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FOR IMMEDIATE RELEASE
PIER 3 LITIGATION DISMISSED AGAINST THE STROBER ORGANIZATION
AND THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY
Brooklyn, New York, January 22, 1997 - THE STROBER ORGANIZATION, INC.
(NASDAQ-STRB) today announced that the action filed against it entitled
Brooklyn Bridge Park Coalition, Inc. v. Port Authority of New York and New
Jersey and The Strober Organization, Inc. in the United States District Court,
Eastern District of New York, CASE NO. CV. 96-3793 was dismissed by Judge Reena
Raggi.
On July 31, 1996, this action was commenced by the Brooklyn Bridge Park
Coalition, a non-profit organization of approximately sixty civic associations
seeking to prevent the Port Authority from leasing Pier 3 to a subsidiary of
The Strober Organization, Inc. . The lease of the idle Pier 3 facility to
Strober represented the investment of over $1.5 million of leasehold
improvements, the retention of 54 Strober employees on the Brooklyn waterfront
and revenue to the Port Authority of more than $8.5 million over the 10 year
lease term.
On August 20, 1996, Strober and the Port Authority filed a joint motion to
dismiss all of the claims in the case. During the pendency of the motion,
Strober completed its leasehold improvement project and commenced operations at
the Pier 3 site.
Judge Raggi's decision dismissed with prejudice all of the federal claims
asserted by the plaintiff. The Court also noted that the Port Authority and
Strober had made strong arguments for dismissing with prejudice the claims that
were brought under state law, but the Court declined to exercise federal
jurisdiction over those claims. Accordingly, the state law claims were
dismissed without prejudice.
As previously announced on Monday, November 11, 1996, Strober had entered
into a definitive merger agreement with Hamilton Acquisition LLC which provides
for all of Strober's common stock to be acquired for $6.00 per share, in cash,
for an aggregate fully diluted purchase price of approximately $32 million. The
Hamilton merger agreement contemplates completing the transaction in February
or March 1997 and will not be affected by this dismissal in Strober's favor.
Strober has been represented in both the Pier 3 litigation and in the
Hamilton acquisition by the Newark based law firm of Sills Cummis Zuckerman
Radin Tischman Epstein & Gross by Managing Partner Steve E. Gross, corporate
partner Stanley U. North, III and litigation partners Mark S. Olinsky and Mark
E. Duckstein.
The Port Authority was represented in the Pier 3 litigation by its in-
house counsel Milton H. Pachter, Walter M. Frank and Timothy G. Stickelman.
The Strober Organization, Inc. is a leading supplier of building materials
to professional contractors from 11 centers in New York, New Jersey,
Connecticut and Pennsylvania with 1995 revenues of $125,813,000.
For more information contact:
Strober Representative: David J. Polishook
Chief Financial Officer
Tel: (718) 875-9700
Fax: (718) 246-3075
Port Authority Representative: Allen M. Morrison
Media Relations
Tel: (212) 435-7847
Fax: (212) 435-4032
