-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QF/8IdLFRG2N25pnCzA5Bz4eW5bs05tIu0ZWXUY3axQ/Un1wLySW2oL+d7RsbG1F VOqOc4IXen4b86iNtMaz9g== 0001026081-09-000002.txt : 20090120 0001026081-09-000002.hdr.sgml : 20090119 20090120095236 ACCESSION NUMBER: 0001026081-09-000002 CONFORMED SUBMISSION TYPE: SC 13D/A CONFIRMING COPY: PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090120 DATE AS OF CHANGE: 20090120 GROUP MEMBERS: BROAD PARK INVESTORS, LLC GROUP MEMBERS: LSBK06-08, LLC GROUP MEMBERS: SEIDMAN AND ASSOCIATES, LLC GROUP MEMBERS: SEIDMAN INVESTMENT PARTNERSHIP II, LP GROUP MEMBERS: SEIDMAN INVESTMENT PARTNERSHIP, LP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHERN CONNECTICUT BANCORP INC CENTRAL INDEX KEY: 0001137046 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 061609692 STATE OF INCORPORATION: CT FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-62083 BUSINESS ADDRESS: STREET 1: 215 CHURCH STREET CITY: NEW HAVEN STATE: CT ZIP: 06510 BUSINESS PHONE: 2037821100 MAIL ADDRESS: STREET 1: 215 CHURCH STREET CITY: NEW HAVEN STATE: CT ZIP: 06510 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SEIDMAN LAWRENCE B CENTRAL INDEX KEY: 0001026081 STATE OF INCORPORATION: NJ FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: BUSINESS PHONE: 2015601400 MAIL ADDRESS: STREET 1: LANIDEX CENTER STREET 2: 100 MISTY LANE P O BOX 5430 CITY: PARSIPPANY STATE: NJ ZIP: 07054 SC 13D/A 1 schedule13damend1.htm SOUTHERN CONNECTICUT BANCORP INC. SCHEDULE 13D AMENDMENT NO. 1 schedule13damend1.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
 
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
 


Southern Connecticut Bancorp, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
84264A102 
(CUSIP Number)
Lawrence B. Seidman, 100 Misty Lane, Parsippany, NJ  07054
(973) 952-0405
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
January 16, 2009
(Date of Event which Requires Filling of this Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ·· 240.13d-1(e), 240.13d-1 (f) or 240.13d-1(g), check the following box.   (    )

 
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See · 240.13d-7 for other parties to whom copies are to be sent.
 
* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 
 
 
 
 
SCHEDULE 13D
CUSIP No. 84264A102 
  1. Seidman and Associates, LLC        22-3343079
  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )
  3. SEC USE ONLY
  4.    
Source of Funds*
                            WC
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )
  6.
Citizenship or Place of Organization
                            New Jersey
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With		 7. Sole Voting Power            31,470
                        
8. Shared Voting Power
9. Sole Dispositive Power        31,470
                        
10. Shared Dispositive Power
  11. Aggregate Amount Beneficially Owned by Each Reporting Person    31,470
                            
  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )
  13.
Percent of Class Represented by Amount in Row (11)    1.15
                                            
  14. Type of Reporting Person                         OO
 
 
1
 
 
SCHEDULE 13D
CUSIP No. 84264A102 
  1. Seidman Investment Partnership, LP        22-3360359
  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )
  3. SEC USE ONLY
  4.    
Source of Funds*
                            WC
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )
  6.
Citizenship or Place of Organization
                            New Jersey
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With		 7. Sole Voting Power            31,470
                        
8. Shared Voting Power
9. Sole Dispositive Power        31,470
                        
10. Shared Dispositive Power
  11. Aggregate Amount Beneficially Owned by Each Reporting Person    31,470
                            
  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )
  13.
Percent of Class Represented by Amount in Row (11)    1.15
                            
  14. Type of Reporting Person                         PN
 
 
2
 
SCHEDULE 13D
CUSIP No. 84264A102
  1. Seidman Investment Partnership II, LP        22-3603662
  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )
  3. SEC USE ONLY
  4.    
Source of Funds*
                            WC
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )
  6.
Citizenship or Place of Organization
                            New Jersey
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With		 7. Sole Voting Power            31,670
                        
8. Shared Voting Power
9. Sole Dispositive Power        31,670
                        
10. Shared Dispositive Power
  11. Aggregate Amount Beneficially Owned by Each Reporting Person    31,670
                            
  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )
  13.
Percent of Class Represented by Amount in Row (11)    1.16
                            
  14. Type of Reporting Person                         PN
 
 
3
 
SCHEDULE 13D
CUSIP No. 84264A102
  1.  Broad Park Investors, LLC        22-6759307
  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )
  3. SEC USE ONLY
  4.    
Source of Funds*
                            WC
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )
  6.
Citizenship or Place of Organization
                            New Jersey
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With		 7. Sole Voting Power            31,670
                       
8. Shared Voting Power
9. Sole Dispositive Power        31,670
                       
10. Shared Dispositive Power
  11. Aggregate Amount Beneficially Owned by Each Reporting Person    31,670
                           
  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )
  13.
Percent of Class Represented by Amount in Row (11)    1.16
                           
  14. Type of Reporting Person                         OO
 
 
4
 
 
SCHEDULE 13D
CUSIP No. 84264A102 
  1. Berggruen Holdings North America Ltd.
  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )
  3. SEC USE ONLY
  4.    
Source of Funds*
                            OO
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )
  6.
Citizenship or Place of Organization
                            British Virgin Islands
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With		 7. Sole Voting Power            0
                        
8. Shared Voting Power
9. Sole Dispositive Power        0
                        
10. Shared Dispositive Power
  11. Aggregate Amount Beneficially Owned by Each Reporting Person    0
                            
  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )
  13.
Percent of Class Represented by Amount in Row (11)    0.00
                            
  14. Type of Reporting Person                         CO
 
 
5
 
SCHEDULE 13D
CUSIP No. 84264A102 
  1. LSBK06-08, LLC    20-8067445
  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )
  3. SEC USE ONLY
  4.    
Source of Funds*
                            WC
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )
  6.
Citizenship or Place of Organization
                            New Jersey
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With		 7. Sole Voting Power            21,475
                        
8. Shared Voting Power
9. Sole Dispositive Power        21,475
                        
10. Shared Dispositive Power
  11. Aggregate Amount Beneficially Owned by Each Reporting Person    21,475
                            
  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )
  13.
Percent of Class Represented by Amount in Row (11)     0.78
                                           
  14. Type of Reporting Person                         OO
 
 
6
 
 
 
SCHEDULE 13D
CUSIP No. 84264A102
  1. Lawrence B. Seidman        ###-##-####
  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )
  3. SEC USE ONLY
  4.    
Source of Funds*
                            PF, WC
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )
  6.
Citizenship or Place of Organization
                            U.S.A.
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With		 7. Sole Voting Power            178,425
                        
8. Shared Voting Power
9. Sole Dispositive Power        178,425
                        
10. Shared Dispositive Power
  11. Aggregate Amount Beneficially Owned by Each Reporting Person    178,425
                            
  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )
  13.
Percent of Class Represented by Amount in Row (11)    6.52
                             
  14. Type of Reporting Person                         IN
 
 
7
This statement on Schedule 13D which was filed on November 6, 2007 on behalf of Seidman and Associates, L.L.C (“SAL”), Seidman Investment Partnership, L.P. (“SIP”), Seidman Investment Partnership II, L.P. (“SIPII”), Broad Park Investors, L.L.C. (“Broad Park”), LSBK06-08, L.L.C., Berggruen Holdings North America Ltd., and Lawrence Seidman individually (“Seidman”), collectively the “Reporting Persons” with respect to the Reporting Persons’ beneficial ownership of shares of Common stock (“the Shares”) of Southern Connecticut Bancorp, Inc., a Connecticut corporation, (“the Issuer”) is hereby amended as set forth below: Such statement on Schedule 13D is hereinafter referred to as the “Schedule 13D”. Terms used herein which are defined in the Schedule 13D shall have their respective meanings set forth in the Schedule 13D. 
 
 
4. Purpose of Transaction
 
Berggruen Holdings North America Ltd.,* a Reporting Person, sold all of the shares owned of the Issuer and has ceased to be a Reporting person.
 
*All of the shares of the Issuer sold by Berggruen were sold to other entities controlled by Seidman. 
 
On January 16, 2009 Seidman sent a letter to Director Elmer Laydon requesting that the Issuer disclose all material information concerning merger discussions with third parties.  (A copy is attached hereto as Exhibit A.)
 
5. Interest in Securities of the Issuer

(a)(b)(c) As of the close of business on January 16, 2009, the Reporting Persons owned beneficially an aggregate of 178,425 shares of Common Stock, which constituted approximately 6.52% of the 2,737,528 shares of Common Stock outstanding as of November 13, 2008, as disclosed in the Issuer's Form 10-Q for the period ended September 30, 2008. 
 
Except as set forth in this Item 5, none of the Reporting Persons owns beneficially or has a right to acquire beneficial ownership of any Common Stock, and except as set forth in this Item 5, none of the Reporting Persons has effected transactions in the Common Stock during the past sixty (60) days except for previously reported transactions.


8
 
Signature
 
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 
 
Date:  January 20, 2009
  /ss/ Lawrence B. Seidman
 
Lawrence B. Seidman, Manager,
Seidman and Associates, L.L.C.
     
  /ss/ Lawrence B. Seidman
  Lawrence B. Seidman, President of the Corporate General Partner, Seidman Investment Partnership, L.P.
   
   /ss/ Lawrence B. Seidman
   Lawrence B. Seidman, President of the Corporate General Partner, Seidman Investment Partnership II, LP
   
 
 /ss/ Lawrence B. Seidman
  Lawrence B. Seidman, Investment Manager, Broad Park Investors, L.L.C.
   
   /ss/ Lawrence B. Seidman
  Lawrence B. Seidman, Investment Manager, LSBK06-08, L.L.C.
   
   /ss/ Lawrence B. Seidman
   Lawrence B. Seidman, Individually
 
 
9
                         
EXHIBIT A
LAWRENCE B. SEIDMAN
100 Misty Lane
Parsippany, NJ 07054
(973) 952-0405
(973) 781-0876 fax
January 16, 2009

 
Via Federal Express
Mr. Elmer Laydon
Laydon Industries, LLC
51 Longhini Lane
New Haven CT  06519

Dear Mr. Laydon:

You have disclosed to me that the Board has received a written letter of intent, in excess of $9.00, to purchase Southern Connecticut Bancorp, Inc. (SSE).  In addition, you represented that the Board was speaking with at least two (2) additional purchasers.  You also represented that the Board has unanimously voted to sell SSE.

Your disclosures to me during our last phone conversation have left me with the impression that you and maybe some of the other Board members may now not be acting in the best interest of all the shareholders.  I cannot understand why the Board has not concluded the SSE sale.  The Board should now make full disclosure with respect to the details of the Board’s negotiations so the shareholders can evaluate the Board’s conduct.

Based upon my many conversations with you, if SSE is not sold, a change in the composition of the Board, in my opinion, is required.  Therefore, I will be nominating Neal S. Axelrod and myself for election to the Board at the next annual shareholders meeting in accordance with Section 1.13 of the SSE Bylaws.  Hopefully we can avoid a costly proxy contest.  Please contact me to discuss the issues raised in this letter.

Please distribute a copy of this letter to all of the SSE Board members.


                            Very truly yours,



                            LAWRENCE B. SEIDMAN
LBS:jb
 
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