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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 8, 2003
Friedman's Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-22356 58-20583
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
171 Crossroads Parkway
Savannah, Georgia 31422
(Address of principal executive offices)
(912) 233-9333
(Registrant's telephone number, including area code)
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Item 5. Other Events and Required Regulation FD Disclosure.
We, along with 13 other defendants, including Crescent Jewelers and
Whitehall Jewellers, have recently been sued by Capital Factors, Inc., a
receivables factoring company that factored the accounts receivable of one of
our former vendors, Cosmopolitan Gem Corporation. Capital Factors alleges that
the defendants intentionally or negligently participated with Cosmopolitan in
the misrepresentation of the balance of Cosmopolitan's accounts receivable, the
effect of which was to induce Capital Factors to continue to advance funds to
Cosmopolitan. Capital Factors also alleges that Cosmopolitan's customers
improperly made payments on accounts with Cosmopolitan directly to Cosmopolitan.
In general, Capital Factors alleges damages against all defendants of not less
than $30 million and seeks punitive damages. Friedman's, Crescent, and at least
one other party to the Capital Factors lawsuit have recently been contacted by
the Securities and Exchange Commission, which has opened an informal inquiry
into the allegations contained in the lawsuit. We intend to fully cooperate
with the SEC and provide the SEC with any information that it may request from
us in that regard.
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.
Friedman's Inc.
(Registrant)
Date: September 11, 2003 By: /s/ Victor M. Suglia
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Victor M. Suglia
Senior Vice President,
Chief Financial Officer,
Treasurer and Secretary