Item
7.01
Regulation FD Disclosure
On
February 5, 2008, Collectors Universe, Inc. reported that on February
1, 2008
the Appellate Court issued its second decision in the William Miller
case -
after considering Miller’s petition for rehearing - again ruling that, contrary
to Miller’s assertions, he is not entitled to statutory damages of $10.5
million.
As
previously reported, Miller argued that he was
entitled, under California law, to statutorily prescribed damages of
$750 for
each alleged use of his name made by Collectors Universe without his
consent and
that, since Miller claims that his name appeared on 14,060 authentication
certificates issued by Collectors Universe, he was entitled to statutory
damages
of $750.00 times 14,060, or approximately $10.5 million in total. The
Appellate Court ruled, instead, that the use of his name constituted,
at most, a
single violation of the statute in question and, therefore, Miller is
not
entitled to multiply $750.00 by the number of times his name was
used. The Appellate Court also ruled that Miller has the right to
seek a retrial - in which he may attempt to prove that Collectors Universe
violated the statute at issue or common law, and if so, how, if at all,
he was
damaged by Collectors Universe – but that in any such retrial he cannot seek to
multiply $750.00 by the number of times, if any, that Collectors Universe
used
his name without his consent. The Company cannot predict whether
Miller will pursue a new trial.
The
Appellate Court’s decision becomes final in 30 days. During that
period, Miller could petition the Appellate Court to reconsider its
decision. At the end of the 30-day period, Miller will have a period
of 10 days within which to file a petition for review by the California
Supreme
Court.
In
accordance with
General Instruction
B
.
2
of Form 8-K, the
information in this Current Report, including Exhibit 99.1
hereto
,
is being
furnished and shall not be deemed "filed" for purposes of Section 18
of the
Securities Exchange Act of 1934, as amended, or otherwise subject to
the
liabilities of that Section, nor shall
such
information
be
deemed incorporated by reference in any filing under the Securities Act
of 1933,
as amended.