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) - February 21, 2002
IEC Electronics Corp.
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(Exact name of Registrant as Specified in its Charter)
Delaware
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(State or other jurisdiction of Incorporation)
0-6508 13-3458955
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(Commission File Number) (IRS Employer Identification No.)
105 Norton Street, Newark, New York 14513
(Address of Principal Executive Offices)
(315) 331-7742
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(Registrant's Telephone Number, including Area Code)
Item 5. Other Events and Regulation FD Disclosure
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IEC Electronics Corp. v. Acterna Corporation
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On November 16, 2001, the Company commenced an action in New
York State Supreme Court against Acterna Corporation ("Acterna"). The complaint
asserts claims for unpaid invoices and breach of contract for which the Company
seeks approximately $7.0 million. On January 18, 2002, Acterna served an answer
which consisted of a general denial and various affirmative defenses.
The Company moved for summary judgment, and oral arguments
were heard on February 13, 2002. In a decision dated February 21, 2002, the
Court granted that portion of the Company's motion for summary judgment that
related to claims for unpaid invoices and awarded the Company summary judgment
in the amount of $1,580,077.13.
The portion of the motion for summary judgment that related
to breach of contract was denied. A settlement conference with the Court to
attempt to resolve the breach of contract issues has been scheduled for March 5,
2002. If the conference fails to produce a settlement, the Company intends to
vigorously prosecute the contract claim which management believes to be
meritorious.
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.
IEC Electronics Corp.
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(Registrant)
Date: February 22, 2002 By: /s/ Richard L. Weiss
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Richard L. Weiss
Vice President, Chief Financial
Officer & Treasurer