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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) November 15, 1999
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PharmaPrint Inc.
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(Exact name of registrant as specified in charter)
Delaware 000-21141 33-0640125
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(State or other jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification Number)
2600 Michelson Drive, Suite 1600, Irvine, CA 92612
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (949) 794-7778
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ITEM 5. OTHER EVENTS.
On November 16, 1999, PharmaPrint initiated an action against
American Home Products Corporation ("AHP") in the Orange County, CA Superior
Court alleging a number of claims including misappropriation of trade
secrets, breach of contract, violation of unfair competition laws and breach
of the implied covenant of good faith and fair dealing. PharmaPrint is
seeking monetary damages, preliminary and permanent injunctions, punitive
damages, restitution and disgorgement and other damages.
The Company was informed on November 15, 1999, that, on November 8,
1999, AHP initiated an action against PharmaPrint in the Superior Court of
New Jersey, Morris County Law Division alleging a number of claims including
breach of contract. PharmaPrint has not yet been served with a complaint in
this action. PharmaPrint believes that AHP is seeking monetary damages,
declaratory judgment and injunctions. PharmaPrint believes that it has
meritorious defenses to AHP's action and intends to vigorously defend itself.
Pending resolution of these matters, there can be no assurance that
AHP will pay to PharmaPrint the amounts PharmaPrint believes AHP owes it or
that PharmaPrint will derive any additional revenues from the agreements with
AHP. PharmaPrint cannot predict the outcome of these suits and the failure to
succeed in the action filed by PharmaPrint or any adverse determination in
the action filed by AHP could have a material adverse effect on PharmaPrint's
business, financial condition and results of operations.
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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.
PHARMAPRINT INC.
Date: November 17, 1999 By: /s/ James R. Wodach
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James R. Wodach
Senior Vice President and
Chief Financial Officer
