SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported) MARCH 17, 1999
CHS ELECTRONICS, INC.
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(Exact name of registrant as specified in its charter)
FLORIDA
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(State or other jurisdiction of incorporation)
0-24244 65-0263022
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(Commission File Number) (IRS Employer Identification No.)
2000 N.W. 84TH AVENUE
MIAMI, FLORIDA 33122
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(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code (305) 716-8273
N/A
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On March 17, 1999, CHS Electronics, Inc. ("Registrant") issued a press
release announcing the filing of a class action lawsuit against the Company and
two of its officers.
Reference is made to the press release filed as Exhibit 99 hereto. The
information set forth in Exhibit 99 is hereby incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
EXHIBIT
NUMBER DESCRIPTION
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99 Press release, dated March 17, 1999, announcing the filing of a
class action lawsuit.
2
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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 thereunto duly authorized.
CHS ELECTRONICS, INC.
Dated: March 25, 1999 By: /s/ CRAIG TOLL
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Craig Toll, Vice President-Finance,
Treasurer and Chief Financial Officer
3
<PAGE>
INDEX TO EXHIBITS
EXHIBIT
NUMBER EXHIBIT DESCRIPTION PAGE
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99 Press release, dated March 17, 1999, announcing the
filing of a class action lawsuit.
4
EXHIBIT 99
[CHS LOGO]
Contact: CHS ELECTRONICS, INC.
Craig Toll
Chief Financial Officer
(305) 908-7200
FOR IMMEDIATE RELEASE
MORGEN-WALKE ASSOCIATES:
Ed Bisno/Theresa Schillero
Media Contact: Brian Maddox/Estelle Bieber
(212) 850-5600
CHS ELECTRONICS ANNOUNCES THE FILING OF CLASS ACTION LAWSUIT
Miami, FL - March 17, 1999 - CHS Electronics, Inc. (NYSE:HS), a leading
international distributor of microcomputer products, today announced that a
class action complaint has been filed alleging that the Company and two of its
officers violated federal securities laws in connection with financial reporting
and disclosure during the period February 27, 1997 through March 1O, 1999. The
suit purports to be on behalf of those who purchased CHS Electronics common
stock during that time frame.
Claudio Osorio, Chairman and Chief Executive Officer, commented, "The
Company, in coordination with its legal counsel, is in the process of carefully
reviewing the allegations of the complaint. However, we believe that the claims
are without merit and we intend to vigorously defend the suit."
Miami-based CHS Electronics, ranked number 320 on the latest Fortune 500
list of the largest U.S.-based industrial corporations is a leading
international distributor of microcomputers, peripherals, and software to
approximately 15O,000 resellers in 46 countries in Europe, Latin America, Asia,
the Middle East and Africa Unlike other computer wholesalers, CHS Electronics
distributes a limited product line for a limited number of leading computer
manufacturers and does so only outside the United States. The Company believes
that its "focused distribution" enables it to respond more quickly to customers,
provide better service, and reduce inventory and working capital requirements.
CHS believes it is the largest microcomputer distributor in Europe and Latin
America. Information regarding CHS Electronics can be found on the Company's
website at www.chse.com.
FORWARD-LOOKING STATEMENTS MADE BY CHS ELECTRONICS ARE BASED ON CURRENT
EXPECTATIONS AND MAY DIFFER MATERIALLY FROM ACTUAL RESULTS. AMONG THE FACTORS
THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY ARE CHANGES IN BUSINESS
CONDITIONS, GROWTH IN THE PERSONAL COMPUTER INDUSTRY AND THE GENERAL ECONOMY;
COMPETITION; CHANGES IN THE PRODUCT MIX; THE NUMBER OF ACQUISITIONS MADE; THE
OUTCOME OF THE CLASS ACTION LITIGATION FILED AGAINST IT; AND THE RISK FACTORS
LISTED BY CHS ELECTRONICS' REPORTS FILED WITH THE SECURITIES EXCHANGE
COMMISSION.
