0000893220-01-500515.txt : 20011018
0000893220-01-500515.hdr.sgml : 20011018
ACCESSION NUMBER: 0000893220-01-500515
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20010727
ITEM INFORMATION: Other events
FILED AS OF DATE: 20010730
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: ADVANTA CORP
CENTRAL INDEX KEY: 0000096638
STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141]
IRS NUMBER: 231462070
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-14120
FILM NUMBER: 1692632
BUSINESS ADDRESS:
STREET 1: P.O. BOX 844
STREET 2: WELSH & MCKEAN ROADS
CITY: SPRING HOUSE
STATE: PA
ZIP: 19477
BUSINESS PHONE: 2154445051
MAIL ADDRESS:
STREET 1: C/O WELSH & MCKEAN ROADS
STREET 2: P.O. BOX 844
CITY: SPRING HOUSE
STATE: PA
ZIP: 19477-0844
FORMER COMPANY:
FORMER CONFORMED NAME: TEACHERS SERVICE ORGANIZATION INC
DATE OF NAME CHANGE: 19850812
FORMER COMPANY:
FORMER CONFORMED NAME: TSO FINANCIAL CORP
DATE OF NAME CHANGE: 19880306
8-K
1
w51910e8-k.txt
ADVANTA CORPORATION FORM 8-K DATED JULY 27, 2001
1
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): July 27, 2001
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Advanta Corp.
--------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 0-14120 23-1462070
---------------------------- ----------------- -----------------
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
Welsh and McKean Roads, P.O. Box 844, Spring House, PA 19477
--------------------------------------------------------- --------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (215) 657-4000
--------------
2
Item 5. Other Events
On July 27, 2001 Advanta Corp. (the "Company" or "Advanta") reported that on
Thursday, July 26, 2001, Chase Manhattan Mortgage Corporation ("Chase"), a
subsidiary of J.P. Morgan Chase & Co., filed a Complaint against Advanta and
certain of its subsidiaries relating to the sale of the mortgage business to
Chase which closed effective February 28, 2001.
The Complaint was completely unexpected since Chase never engaged in a
substantive discussion with Advanta about the issues it is raising in the
lawsuit. Advanta has not been served with the Complaint, although it is
generally aware of the allegations which its attorneys are reviewing. Advanta
believes that the lawsuit is inappropriate and without merit and the Company
will vigorously defend itself. Chase and its advisors had access to all relevant
information in connection with the transaction and Advanta has complied fully
with its agreements and the applicable rules. Advanta does not expect this
lawsuit to have any impact on its continuing business, and based on the complete
lack of merit, Advanta does not anticipate that the lawsuit will have a material
adverse impact to it or the named subsidiaries.
Advanta is a highly focused financial services company which has been providing
innovative financial solutions since 1951. Advanta leverages its first-class
direct marketing and information based expertise to develop state-of-the-art
data warehousing and statistical modeling tools that identify potential
customers and new target markets. Over the past five years, it has used these
distinctive capabilities to become one of the nation's largest issuers of
MasterCard business credit cards to small businesses. Learn more about Advanta
at www.advanta.com.
This Current Report on Form 8-K contains forward-looking statements that are
subject to certain risks and uncertainties that could cause actual results to
differ materially from those projected. The most significant among these risks
and uncertainties is the uncertainty of the legal process. Additional risks that
may affect the Company's future performance are detailed in the Company's
filings with the Securities and Exchange Commission, including its most recent
Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.
3
Form 8-K Advanta Corp.
Item 7. Financial Statements and Exhibits.
(c) Exhibits:
None
4
Form 8-K Advanta Corp.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of l934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Advanta Corp.
By: /s/ Elizabeth H. Mai
---------------------------------------
Elizabeth H. Mai, Senior Vice President,
Secretary and General Counsel
July 30, 2001