<PAGE> 1
UNITED STATES
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): OCTOBER 30, 1997
OXFORD HEALTH PLANS, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-19442 06-1118515
(State or other jurisdiction) (Commission (IRS Employer
of incorporation) File Number) Identification No.)
800 Connecticut Avenue, Norwalk, Connecticut 06854
(Address of principal executive offices) (Zip Code)
(203) 852-1442
(Registrant's telephone number, including area code)
1
<PAGE> 2
ITEM 5. OTHER EVENTS.
On October 28, 29, and 30, 1997, purported class action lawsuits were
filed against the Company and certain of its officers in the U.S. District
Courts for the Eastern District of New York, the Southern District of New York
and the District of Connecticut. The complaints in these lawsuits, which purport
to be class actions on behalf of purchasers of the Company's securities during
varying periods beginning on or after November 6, 1996 through October 27, 1997,
generally allege that the defendants violated federal securities laws by
concealing information and making misleading statements regarding the adverse
effect of problems which arose from changes made in the Company's computer
system in September 1996 on the Company's ability to collect on its accounts
receivable, membership enrollment and expenses. The complaints also allege that
certain of the defendants disposed of Company Common Stock while the price of
the Common Stock was artificially inflated by the alleged misstatements and
omissions. The complaints seek unspecified damages, attorneys' and experts' fees
and costs and such other relief as the court deems proper.
Additional complaints containing similar allegations may be filed. The
outcomes of these actions cannot be predicted at this time, although the Company
and the individual defendants believe that they have substantial defenses to the
claims asserted and intend to vigorously defend the actions.
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, thereunto duly authorized.
OXFORD HEALTH PLANS, INC.
Date: October 30, 1997 By: /s/ ANDREW B. CASSIDY
-----------------------------
ANDREW B. CASSIDY
Executive Vice President and
Chief Financial Officer
2
