8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): March 19, 2009
MEDIACOM COMMUNICATIONS CORPORATION
(Exact name of Registrant as specified in its charter)
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Delaware
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0-29227
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06-1566067 |
(State of incorporation)
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(Commission File No.)
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(IRS Employer Identification No.) |
100 Crystal Run Road
Middletown, New York 10941
(Address of principal executive offices)
Registrants telephone number: (845) 695-2600
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the Registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c)) |
TABLE OF CONTENTS
Item 8.01. Other Events.
Mediacom LLC, one of our wholly owned subsidiaries, is named as a defendant in a putative class
action, captioned Gary Ogg and Janice Ogg v. Mediacom LLC, pending in the Circuit Court of Clay
County, Missouri, originally filed in April 2001. The lawsuit alleges that Mediacom LLC, in areas
where there was no cable franchise failed to obtain permission from landowners to place our fiber
interconnection cable notwithstanding the possession of agreements or permission from other third
parties. While the parties continue to contest liability, there also remains a dispute as to the
proper measure of damages. Based on a report by their experts, the plaintiffs claim compensatory
damages of approximately $14.5 million. Legal fees, prejudgment interest, potential punitive
damages and other costs could increase that estimate to approximately $26.0 million. The plaintiffs
recently proposed an alternative damage theory of $42.0 million in compensatory damages.
Notwithstanding the verdict in the trial described below, we remain unable to reasonably determine
the amount of our final liability in this lawsuit. Prior to trial our experts estimated our
liability to be within the range of approximately $0.1 million to $2.3 million. This estimate does
not include any estimate of damages for prejudgment interest, attorneys fees or punitive damages.
On March 9, 2009, a jury trial commenced solely for the claim of Gary and Janice Ogg, the
designated class representatives. On March 19, 2009, the jury rendered a verdict in favor of Gary
and Janice Ogg setting compensatory damages of $8,863 and punitive damages of $35,000. This verdict
is not yet final. Although we believe that the particular circumstances of each class member may
result in a different measure of damages for each member, if the same measure of compensatory
damages was used for each member, the aggregate compensatory damages would be approximately $16.2
million. Mediacom LLC intends to file motions with respect to the verdict and vigorously defend
against the claims made by the other members of the class, including at trial, and on appeal, if
necessary.
We believe that the amount of actual liability would not have a significant effect on our
consolidated financial position, results of operations, cash flows or business. There can be no
assurance, however, that the actual liability ultimately determined for all members of the class
would not exceed our estimated range or any amount derived from the verdict rendered on March 19,
2009. Mediacom LLC has tendered the lawsuit to our insurance carrier for defense and
indemnification. The carrier has agreed to defend Mediacom LLC under a reservation of rights, and a
declaratory judgment action is pending regarding the carriers defense and coverage
responsibilities.
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.
Dated: March 31, 2009
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Mediacom Communications Corporation
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By: |
/s/ Mark E. Stephan
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Mark E. Stephan |
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Executive Vice President and
Chief Financial Officer |
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