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):
October 23, 1997
NBTY, INC.
(Exact name of registrant as specified in charter)
DELAWARE 0-10666 11-2228617
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(State or other (Commission (IRS Employer
jurisdiction of File No.) identification
incorporation) number)
90 Orville Drive, Bohemia, New York 11716
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(Address of principal executive office and zip code)
Registrant's telephone number (516) 567-9500
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ITEM 5. Other Events
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On October 23, 1997, the registrant announced that it had signed a
memorandum of understanding to settle a class action lawsuit. Under the
terms of the memorandum, the registrant will pay to the class a total of
eight million dollars comprised of four million, four hundred thousand
dollars in cash and three million, six hundred thousand dollars in the
registrant's common stock.
An undetermined amount of the cash payment will be covered by
insurance reimbursement. This settlement requires the approval of the U.S.
District Court, Eastern District of New York.
The registrant also announced that total sales for the fiscal year
ended September 30, 1997 were $281 million compared to $194 million in the
prior year. The $281 million includes $23 million in revenues from its
acquisition of Holland & Barrett.
The registrant stated that it will take the litigation settlement as a
one-time charge in its 4th quarter (ended September 30, 1997), and the
settlement of an interest rate hedge of $2.3 million in connection with the
Holland & Barrett acquisition.
Annexed to this report as an exhibit is the press release dated
October 23, 1997.
ITEM 7. Financial Statements and Exhibits.
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(i) Press Release dated October 23, 1997.
SIGNATURE
Pursuant to the requirements of Section 12 of the Securities Exchange Act of
1934, the Registrant has duly caused this Registration Statement or
amendment to be signed on its behalf by the undersigned, thereunto duly
authorized.
NBTY, Inc.
By: /s/ Harvey Kamil
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Harvey Kamil
Executive Vice President
Dated: November 4, 1997