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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 4, 1999
QUINTILES TRANSNATIONAL CORP.
(Exact name of registrant as specified in its charter)
NORTH CAROLINA 340-23520 56-1714315
(State or other jurisdiction (Commission File No.) (I.R.S. Employer
of incorporation) Identification Number)
4709 CREEKSTONE DRIVE, RIVERBIRCH BUILDING, SUITE 200,
DURHAM, NORTH CAROLINA 27703-8411
(Address of principal executive offices)
(919) 998-2000
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On September 30, 1999 a class action lawsuit was filed in the United
States District Court for the Middle District of North Carolina against
Quintiles Transnational Corp. (the "Company") and two of its executive officers
and directors on behalf of all persons who purchased or otherwise acquired
shares of the Company's common stock between July 16, 1999 and September 15,
1999. The complaint alleges violations of federal securities laws, including
violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule
10b-5 thereunder. In particular, among other claims, the complaint alleges that
defendants made certain statements about the Company's anticipated growth that
were misleading because they failed to disclose that the pharmaceutical industry
allegedly had reversed its trend of outsourcing clinical trials and that the
Company had been notified that clinical trials for a class of cardiovascular
drugs would be discontinued. The complaint seeks unspecified damages, plus costs
and expenses, including attorneys' fees and experts' fees. The Company believes
that the claims are without merit and intends to vigorously defend the suit.
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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.
QUINTILES TRANSNATIONAL CORP.
By: /s/ Rachel R. Selisker
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Dated: October 4, 1999 Rachel R. Selisker
Chief Financial Officer and
Executive Vice President Finance
