Collectors Universe Inc - Current report filing (8-K)
April 25 2008 - 8:46AM
Edgar (US Regulatory)
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):
April 25,
2008
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COLLECTORS
UNIVERSE, INC.
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(Exact
name of registrant as specified in its charter)
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Delaware
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0-27887
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33-0846191
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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1921 E. Alton Avenue, Santa Ana,
California
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92705
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code:
(949)
567-1234
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N/A
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(Former
name or former address, if changed since last report)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
£
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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£
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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£
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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£
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
7.01
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Regulation
FD Disclosure
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On April
25, 2008, Collectors Universe, Inc. issued a press release reporting that on
April 23, 2008, the California Supreme Court denied William Miller’s petition
for review of the Appellate Court’s decision, issued in February 2008, that
Miller is not entitled to statutory damages of $10.5 million against Collectors
Universe.
As
previously reported, Miller had argued that he was entitled, under California
law, to statutorily prescribed damages of $750 for each alleged use of his name
by Collectors Universe without his consent and that, since a jury at the trial
of the case found that Miller’s 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 was entitled
to no more than $750.00 in statutory damages. Miller then filed a
petition with the California Supreme Court seeking a review by that Court of the
Appellate Court’s decision.
As a
result of the Supreme Court’s action to deny a review of the Appellate Court’s
decision, if Miller decides to pursue his claims once again, his only option
would be to file, on or before July 7, 2008 for a new trial to reinstate his
statutory and common law claims as well as his claim for punitive
damages. In any such new trial he would first have to prove that
Collectors Universe violated his statutory or common law rights and, even if he
succeeded in doing so, he would have to show how, if at all, he was
damaged. He would not, however, be entitled to multiply $750.00 by
the number of times, if any, that Collectors Universe used his name without his
consent, as his measure of damages. The Company cannot predict
whether Miller will seek a new trial.
The
foregoing description of the action of the California Supreme Court is qualified
in its entirety by reference to a copy of the press release which is attached as
Exhibit 99.1 to this Report.
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.
ITEM
9.01
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Financial
Statements and Exhibits.
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Exhibit
No.
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Description
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99.1
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Press
release issued by Collectors Universe on April 25, 2008 announcing that on
April 23, 2008, the California Supreme Court denied William Miller’s
petition for review of the Appellate Court’s decision, issued in February
2008, that Miller is not entitled to statutory damages of $10.5 million
against Collectors Universe.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this Current Report to be signed on its behalf by the undersigned,
hereunto duly authorized.
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COLLECTORS
UNIVERSE, INC.
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Dated: April
25, 2008
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By:
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/s/ JOSEPH J. WALLACE
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Joseph
J. Wallace, Chief Financial Officer
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EXHIBIT
INDEX
Exhibit
No.
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Description
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Press
release issued by Collectors Universe on April 25, 2008 announcing that on
April 23, 2008, the California Supreme Court denied William Miller’s
petition for review of the Appellate Court’s decision, issued in February
2008, that Miller is not entitled to statutory damages of $10.5 million
against Collectors Universe.
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E-1
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